This may turn out to be quite an active year for acquisitions in the retail sector. Bloomberg reports that Dutch supermarket operator Royal Ahold NV has contacted Harris Teeter's financial advisor JP Morgan Chase to explore a buyout of the company. Harris Teeter operates approximately 200 stores in Southern states, including North Carolina, South Carolina, Virginia, Georgia, Tennessee and Florida, and may help Ahold expand in new markets.
The supermarket chain hired JP Morgan earlier this year, after receiving a buyout offer from a pair of private equity firms. According to an analysis by our sister publication Supermarket News, the retailer could fetch between $2 billion and $2.5 billion.
According to SN:
Sources told SN last week they expected Harris Teeter would have little problem attracting potential acquirers. They cited the chain’s reputation for fresh presentation and quality, strong market share and sales growth, and advantages including private-label development, self-distribution and a non-union workforce.
0 comments
Hide comments