Kroger, the largest traditional grocery store chain in the U.S., announced plans Tuesday to buy Harris Teeter’s 212 supermarkets.
Cincinnati-based Kroger will pay $2.44 billion for the stores spread throughout the southeast and mid-Atlantic, according to the Associated Press. Harris Teeter has a heavy presence in the Washington area, including stores in Manassas, Woodbridge, Bristow and Gainesville.
"This is a financially and strategically compelling transaction and a unique opportunity for our shareholders and associates," Kroger chairman and CEO David Dillon said in a news release.
The release said Kroger does not plan to close or rename any stores, but rather operate them as a subsidiary to Kroger.
Harris Teeter was cofounded in 1960 by two North Carolina grocers, W.T. Harris and Willis Teeter. Today, the chain has stores in eight states, most of them in North Carolina, and another 55 are in the Washington area.
Kroger operates 2,419 stores in 31 states.