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Cerberus Bids for Harris Teeter: Report
NEW YORK — Cerberus Capital Management has bid to acquire Harris Teeter Supermarkets, Matthews, N.C., according to a report in the Wall Street Journal.
June 26, 2013
1 Min Read
NEW YORK — Cerberus Capital Management has bid to acquire Harris Teeter Supermarkets, Matthews, N.C., according to a report in the Wall Street Journal.
Cerberus, which recently acquired Albertsons, Jewel-Osco, Acme and Shaw’s to go with its previously acquired Albertsons LLC holdings, had previously been reported to have an interest in Harris Teeter. According to Wednesday’s reports, the investment firm could look to structure the acquistion of Harris Teeter in such a way that a portion of the chain would remain publicly traded.
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Harris Teeter had disclosed in February that it was considering a possible sale after it said it received interest from two investment groups.
According to the Wall Street Journal article, Cerberus would leave the Harris Teeter management team intact in its North Carolina headquarters. The article also noted that bid could still fall through or other bidders could emerge.
Harris Teeter, with a history of strong perfromance, had been considered too highly valued to attract the interest of private equity firms interested in turnaround opportunites.
