US/FRANCE: Ahold "interested" in regional retailer Harris Teeter

By Michelle Russell | 22 February 2013

Ahold hasn’t made a formal bid, sources told the publication

Ahold hasn’t made a formal bid, sources told the publication

Dutch retailer Ahold is reported to be interested in purchasing regional US retailer Harris Teeter.

According to Bloomberg, Ahold has contacted JP Morgan Chase & Co, the firm Harris Teeter has retained to to "assist" in discussions with certain parties.

Harris Teeter last week confirmed it was exploring a possible sale. It said it was approached by two private-equity firms that had expressed an interest in purchasing the company.

Ahold has not made a formal bid, sources told the publication. A spokesperson for the retailer declined to comment on the reports when contacted by just-food.

Earlier this month, Ahold agreed to sell its shares in Scandinavian retailer ICA for SEK20bn (US$3.11bn)

Two weeks ago, Harris Teeter reported higher underlying sales for its fiscal first quarter in a set of mixed financial results. The company saw comparable-store sales increase 2.5%. However, costs related to starting up ten stores bought from Lowe's hit operating profit, which fell 12.5%.

The group operates around 200 stores in North Carolina, South Carolina, Virginia, Georgia, Tennessee, Maryland, Delaware, Florida and Washington DC.

Sectors: Mergers & acquisitions, Retail

Companies: Ahold

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US/FRANCE: Ahold "interested" in regional retailer Harris Teeter

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