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Harris Teeter says acquisition talks are ongoing

Talks with other companies about acquiring Matthews-based Harris Teeter are ongoing, the company said Wednesday in a securities filing.

The disclosure came as part of the grocery chain’s quarterly report filed with the Securities and Exchange Commission. Harris Teeter has been silent about the talks since February, when the company said it had hired J.P. Morgan after being approached by two hedge funds interested in acquiring it.

“These discussions are continuing; however, there can be no assurance that these discussions will result in any transaction,” Harris Teeter said of the acquisition talks. “The company does not plan to provide any additional information until discussions are concluded.”

Analysts have speculated that a rival grocer, such as Publix or Kroger, could buy Harris Teeter. Dutch grocer Ahold, which owns the Giant supermarkets, has also been mentioned as a possible acquirer.

There’s no timetable yet for when the company might finish acquisition talks.

Last week, Harris Teeter reported its results for the second quarter. The company said its sales rose to $1.17 billion, up 4.3 percent compared with the second quarter a year ago. Harris Teeter’s profits rose more than 8 percent, to $32.9 million.

Portillo: 704-358-5041 On Twitter @ESPortillo
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