Harris Teeter, Lowes Food make deal to swap locations

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CHARLOTTE, N.C. - Harris Teeter is acquiring ten Lowes food stores in the central Carolinas region.

They include locations in Mint Hill, Wesley Chapel, Fort Mill, Weddington, Cornelius, Davidson, Huntersville and three stores in Charlotte.

In exchange, Lowes Foods will get $26.5 million dollars and acquire six Harris Teeter stores.

They are located in Asheville, Hickory, Morganton, Shelby and two in Gastonia.

The deal is expected to be completed in July.

Harris Teeter said it plans to temporarily close the acquired stores for five to 16 weeks so they can train employees. They will also reserve that time to remodel and stock the stores.

Three of the stores are expected to feature a worldwide variety of wine, beer, specialty foods and other selected merchandise.

One of the acquired stores will be subleased.