Dutch Giant Exploring Harris Teeter Buyout

It could join Stop & Shop in Royal Ahold's supermarket portfolio

   

Dutch Giant Exploring Harris Teeter Buyout

grocery checkout 630 300x199 Dutch Giant Exploring Harris Teeter BuyoutSources tell Bloomberg that a Dutch supermarket operator has indicated a interest in acquiring Harris Teeter Supermarkets (NYSE:HTSI).

While no bid has yet been made, Royal Ahold has reportedly communicated its interest to JPMorgan Chase (NYSE:JPM), which is advising Harris Teeter on a potential deal. Harris Teeter has a market value north of $2 billion.

grocerystorestocks 200x200 Dutch Giant Exploring Harris Teeter Buyout
Grocery Stocks: Don’t Be Fooled

Earlier this month, Harris Teeter announced that it would explore the possibility of a sale after two unnamed private equity firms expressed an interest in buying the chain. Harris Teeter generated $4.54 billion in revenue last year from more than 200 supermarkets across eight southeastern states and Washington, D.C.

Royal Ahold owns the Stop & Shop supermarket chain in the U.S. A Rabobank analyst called the acquisition of Harris Teeter by the Dutch company a “likely deal.”

Other potential bidders for Harris Teeter include Kroger (NYSE:KR) and Publix.

Shares of Harris Teeter rose more than 1% in Friday morning trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/02/dutch-giant-exploring-harris-teeter-buyout/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.