Updated:MATTHEWS, N.C. —
The Kroger Co. and Harris Teeter Supermarkets, Inc. announced Wednesday the merger between the two companies was completed on Tuesday.
Under the terms of the merger agreement, Harris Teeter shareholders will receive $49.38 per share of Harris Teeter common stock.
The transaction allows Kroger to expand with the Harris Teeter brand and a base of 227 stores in the fast-growing and attractive southeastern and mid-Atlantic markets and in Washington, D.C. Harris Teeter also operates distribution centers for grocery, frozen and perishable foods in Greensboro and Indian Trail, and a dairy facility in High Point.
Harris Teeter will continue to operate its stores under the Harris Teeter brand name as a subsidiary of the Kroger Co. Harris Teeter had revenues of $4.7 billion for fiscal year 2013.
Kroger and Harris Teeter also announced the retirement of Thomas W. Dickson as chairman and chief executive officer of Harris Teeter Supermarkets Inc.