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Source: Harris Teeter Outbid on Ukrop’s

Harris Teeter, considered a leading candidate to take over Ukrop’s Supermarkets, is out of the running to acquire the retailer here, SN has learned.

Jon Springer, Executive Editor

August 18, 2009

1 Min Read
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JON SPRINGER

RICHMOND, Va. — Harris Teeter, considered a leading candidate to take over Ukrop’s Supermarkets, is out of the running to acquire the retailer here, SN has learned.

Sources told SN that Harris Teeter was outbid for Ukrop’s by an unnamed private equity group, which is currently in exclusive negotiations to acquire Ukrop’s. Representatives of Ukrop’s — which has yet to acknowledge it has put itself up for sale — and Harris Teeter, a division of Matthews, N.C.-based Ruddick Corp., separately declined comment to SN.

Although Harris Teeter was considered a good strategic fit for Ukrop’s, deteriorating performance at the latter made valuations difficult, a source said. Delhaize Group and Ahold were also said to be strategic suitors.

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About the Author

Jon Springer

Executive Editor

Jon Springer is executive editor of Winsight Grocery Business with responsibility for leading its digital news team. Jon has more than 20 years of experience covering consumer business and retail in New York, including more than 14 years at the Retail/Financial desk at Supermarket News. His previous experience includes covering consumer markets for KPMG’s Insiders; the U.S. beverage industry for Beverage Spectrum; and he was a Senior Editor covering commercial real estate and retail for the International Council of Shopping Centers. Jon began his career as a sports reporter and features editor for the Cecil Whig, a daily newspaper in Elkton, Md. Jon is also the author of two books on baseball. He has a Bachelor of Arts degree in English-Journalism from the University of Delaware. He lives in Brooklyn, N.Y. with his family.

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