Regional US retailer Harris Teeter has said talks with a number of companies about an acquisition of the group are “ongoing”.
The retail group confirmed it was exploring a possible sale of the company in February. At the time Harris Teeter said it was approached by two private-equity firms that had expressed an interest in purchasing the company.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Since then, Dutch retailer Ahold and US supermarket group Publix have been reported to be interested in purchasing the company.
In a securities filing this week, Harris Teeter said it was holding discussions with “certain parties” regarding “strategic alternatives”.
“These discussions are continuing; however, there can be no assurance that these discussions will result in any transaction. If a transaction were entered into, there can be no assurance regarding the price, timing or other terms of such transaction. The company does not plan to provide any additional information until discussions are concluded.”
The retailer last week revealed a drop in operating profit as higher costs more than offset sales gains in the first half.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataSales edged up in the six months to 2 April, climbing to US$2.33bn, up from $2.23bn in the prior year, while operating profit was dented by higher selling expenses, dropping to $96.77m from $98.75m.
