Kroger Co.’s $2.4 billion acquisition of North Carolina-based Harris Teeter Supermarkets Inc. should help out both supermarket chains in their battle against giant competitor Walmart.
That’s the view of Michael Douglass, who analyzed the deal this week for investment website the Motley Fool.
“This transaction will make Kroger an excellent investment over the long term,” wrote Douglass, who owns stock in Whole Foods Market but not in either of the companies involved in this deal. “Harris Teeter and Kroger will be a potent combination.”
Cincinnati-based Kroger (NYSE: KR) expects to wrap up the acquisition of Harris Teeter (NYSE: HTSI) by Feb. 1. That will add 212 supermarkets to Kroger’s 2,418 locations.
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