Ahold Eyes Harris Teeter
Matthews, NC-
By ANUK Staff
02.22.13
Ahold has taken an interest in the Matthews, North Carolina-based grocery chain Harris Teeter which has recently retained JPMorgan Chase & Co. to hold discussions with certain parties regarding strategic alternatives.
According to Bloomberg, Ahold has contacted JPMorgan Chase & Co. and is seeking more information on the sale process, said a person with knowledge of the matter, but hasn’t made a formal bid.
“We regard Harris Teeter as a likely deal for Ahold,” Patrick Roquas, an analyst at Rabobank, was quoted as saying by Bloomberg. As it’s unlikely that that Ahold will put its “credible track record at risk” by paying too much, a deal for Harris teeter would not likely hurt the company.
Buying the chain would help Ahold with its expansion in the southern U.S. and Washington, D.C. With its acquisition history and previous expansions, the chances of a bid are probable, BMO Capital Markets analyst Karen Short was noted as saying.
Both Kroger and Publix have also come up as potential buyers eyeing Harris Teeter.
Stay tuned to AndNowUKnow for more on Harris Teeter.
