(NEW YORK) — Supermarket giant Kroger has agreed to buy the regional grocery chain Harris Teeter in a deal the companies say is valued at approximately $2.5 billion.
Kroger is already America’s number one supermarket chain and this purchase of Harris Teeter will give the company a stronger presence in the Southeast and Mid-Atlantic states.
With Wal-Mart making a bigger push into groceries, Kroger is looking to cut costs.
The merged company will have more than 2,600 supermarkets in 34 states and Washington, D.C.
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Brian Stelter, CNN Money
Ahiza Garcia, CNN