FTC clears way for Harris Teeter transaction - The Packer

FTC clears way for Harris Teeter transaction

01/21/2014 11:36:00 AM
Pamela Riemenschneider

Cincinnati-based Kroger Co. expects to complete its purchase of Matthews, N.C.-based Harris Teeter Supermarkets Inc. by the end of January.

The Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act on Jan. 17, a closing condition on the pending merger, according to a news release.

The decision comes almost six months after the definitive merger agreement was announced. Harris Teeter shareholders later approved the $2.5 billion buyout in October.

Kroger plans to maintain the banner and locally-based management for Harris Teeter’s more than 200 stores. With the deal complete, Kroger will operate more than 2,600 stores in the U.S., with more than 360,000 employees.

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