Report: Cerberus Makes Bid For Harris Teeter

Harris Teeter

Cerberus Capital Management reportedly has made a bid for Matthews, N.C.-based Harris Teeter Supermarkets Inc.

The Wall Street Journal, citing a person familiar with the situation, reports that the New York private-equity firm, which recently purchased several chains from Supervalu, has not yet decided whether to acquire Harris Teeter as a whole or to buy a piece of the supermarket chain and leave the rest with shareholders.

Cerberus, the report says, has been looking to expand in the grocery business since buying the Supervalu stores, though Harris Teeter is not as distressed as the companies Cerberus typically pursues. However, the firm might realize savings by combining Harris Teeter with the Supervalu business, the Journal’s source says.

Harris Teeter’s local headquarters would likely remain intact, according to the source.

Both Cerberus and Harris Teeter have remained mum on a potential deal; earlier today Harris Teeter directed to a statement it issued in February, confirming that it was considering its options. The company offered no additional comment.

 

 

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