Skip navigation

Cerberus Said Interested in Harris Teeter

MATTHEWS, N.C. — Cerberus Capital Management is among the private-equity firms considering a bid for Harris Teeter Supermarkets here, according to reports.

According to an article in the Wall Street Journal, Cerberus, which recently acquired the Albertsons, Jewel-Osco, Shaw’s/Star Market and Acme banners from Supervalu, is seeking to acquire other chains to add scale and for turnaround opportunities. It has lined up “about a half-dozen” supermarket chains for possible bids, the article said.

The article also noted that Cerberus was mostly interested in small, closely held companies, so it was unclear how interested it actually would be in buying Harris Teeter, a public company with 200 stores that has been performing well.

Read more: Harris Teeter Eyes Sale

Analysts previously had speculated that Harris Teeter’s stock might be too highly valued to garner serious interest from private-equity firms seeking a turnaround investment. Amsterdam-based Ahold, with its Giant banners largely contiguous to Harris Teeter’s core markets, was seen by some as the most likely strategic aquirer.

Harris Teeter said in February that it had been approached by private-equity firms seeking to acquire it and that it would review the possibility of a sale. It confirmed earlier this month that discussions concerning a sale were ongoing.

TAGS: News
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.