Kroger Acquires Harris Teeter
Kroger, the largest supermarket chain in the US, announced last week it acquired regional chain Harris Teeter in a deal worth US$2.4 billion. The acquisition allows Kroger to expand in areas of the US it did not previously have a strong presence in, such as the South Atlantic states. This region is especially important due to the predicted growth of supermarket sales in the area. For instance, supermarket sales in North Carolina are expected to grow by 3.8% in the next five years. Kroger’s expansion will likely mean even more growth for the company.
Watch on Youtube