The Kroger Co., Cincinnati, and Harris Teeter Supermarkets, Inc., Matthews, N.C., announced that the merger transaction between the two companies was completed on Jan. 28. Under the terms of the merger agreement, Harris Teeter shareholders will receive $49.38 per share of Harris Teeter common stock.
"We are pleased that our merger is complete and look forward to bringing together the best of Kroger and Harris Teeter to benefit our customers, associates and shareholders," says W. Rodney McMullen, chief executive officer of Kroger. "This merger brings the exceptional Harris Teeter brand and a complementary base of stores in attractive markets to the Kroger family. We have long respected Harris Teeter's customer orientation, friendly and professional associates, strong management team and company values, which are consistent with ours. Together, through our Customer 1(st) Strategy, we are going to be an outstanding combination."