MATTHEWS, N.C--(BUSINESS WIRE)--Feb. 13, 2013--
While it is the long-standing policy of Harris Teeter Supermarkets, Inc.
(NYSE: HTSI) (the “Company”) not to comment on rumors regarding mergers
and acquisitions, in response to certain media articles as well as to
remove any disruption to the conduct of its business and its associates,
the Company confirmed today that it has retained J.P. Morgan Securities
LLC (“J.P. Morgan”) to assist the Company in holding discussions with
certain parties regarding strategic alternatives. The Company was
approached by two private equity firms who expressed an interest in
purchasing the Company. In order to fulfill its duty to its shareholders
to evaluate opportunities to increase shareholder value, the Company
retained J.P. Morgan to assist it in conducting discussions with certain
highly qualified parties. The Company intends to continue its strategic
new store growth plan and maintain the employment of its associates in
its stores, and its distribution and manufacturing facilities in Indian
Trail, Greensboro, and High Point, North Carolina, as well as at its
corporate headquarters in Matthews, North Carolina.
There can be no assurance that these discussions will result in any
transaction. If a transaction were entered into, there can be no
assurance as to the price, timing or other terms of such transaction.
The Company does not plan to provide any additional information until
such discussions are concluded.
This news release may contain forward-looking statements that involve
uncertainties, including those related to the Company’s discussions and
evaluations and future plans described above. Various important factors
that could cause results to differ materially from those expressed in
such forward-looking statements include, without limitation, the outcome
of the discussions described above and the extent and speed of
successful execution of strategic initiatives. Other factors not
identified above could cause actual results to differ materially from
those included, contemplated or implied by the forward-looking
statements made in this news release.
Harris Teeter Supermarkets, Inc. operates a leading regional
supermarket chain in eight states primarily in the southeastern and
mid-Atlantic United States, and the District of Columbia.
Source: Harris Teeter Supermarkets, Inc.
Harris Teeter Supermarkets, Inc.
John B. Woodlief,
Executive Vice President and Chief Financial