Kroger to buy Harris Teeter for Around $2.5 Billion

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Kroger Kroger

Two huge grocery chains are set to join forces soon. Kroger has agreed to buy Harris Teeter supermarkets for about $2.5 billion in cash.

The sale will expand Kroger's operation from 31 states to 34 and add 2012 stores currently operated by Harris Teeter.

When the deal closes, Harris Teeter will become a Kroger subsidiary and will continue to be led by its current senior management.

With the new deal, Kroger says it expects to save $40 million to $50 million over the next few years.

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