Food is something we all can’t go without, well, for a few days we may, but not after that. It is called the fuel that runs our body for a reason, coming in the third place, right after oxygen and water. Gone is the era when people hunted or grew their own food, now only a portion of the population does that job and we all buy from them, and now not even directly from the growers but from stores. And the times have changed so drastically, that from harts and small shops to large stores and from them to multi-department stores and now to supermarkets chains, like Walmart and Targets have become common and popular. Now there are many such companies around the world, some small, some big and, some local, some global. One more such company is The Kroger and another, a more local one is Harris Teeter.
It was officially announced on 9 July 2013, that the Kroger company will be acquiring the supermarket chain, Harris Teeter. And on 28 January 2014, the merger was completed. Even though Harris Teeter is a wholly-owned subsidiary of The Kroger now, it still operates under its name and still has its headquarters in Matthews, NC. The deal was closed for 2.5 billion USD, under which Harris Teeters debt of around $100 million was to be assumed and all the shares outstanding were to be bought by Kroger. This merger provided the chance for Kroger to enter Asheville and also provided it the opportunity to return to Charlotte.
The Kroger company –
The Kroger Company is a retail company, that is based in the USA. Its founder was Bernard Kroger, who invested his savings of 372 USD and opened his first Kroger store in Cincinnati in 1883, where now its headquarter is based. He opened up a second store in 1884. In 1902, he added a baking company with the store and now it owns 2,726 stores as well as 137 jewelry stores. By revenue, it is the states largest supermarket chain and is also ranked third as the largest general retailer. Kroger also operates multi-department stores and supermarkets which are 1,613 in number. Kroger also owns 33 food manufacturing companies and 2,525 pharmacies. Kroger is now known as the second-largest grocery chain in the US, and the largest supermarket by revenue. Kroger even owns a supermarket petroleum group. Kroger is also the owner of the multi-department store Fred Meyer as well as marketplaces- Smith’s, King Soopers, Dillions, King and Fry’s, as well as Food 4 less and Food Co. Kroger was accredited as the most generous company by the Forbes because of it supporting causes like breast cancer awareness, hunger relief, schools, the military, and their families as well as other organizations.
Harris Teeter –
Harris Teeter or also called the Harris Teeter Neighbourhood Food and Pharmacy. Harris Teeter supermarkets are the outcome of two different ventures, Harris drugs of William Thomas Harris and Teeters Food Mart, opened by Willis L teeter. They decided to collaborate and merged both of these stores officially in 1959. It remained independent till 1969 and was sold to Reddick cooperation and in 2014 to the Kroger company. Harris Teeter expanded and now includes 261 stores and also fuel centers of 60 in number. Harris Teeter may be a subsidiary of Kroger now but it still provides Harris Teeter brand products. Harris Teeter still maintains its quality and is even known to be a little more upscale in comparison to Kroger. Harris Teeter gained the rank 34 by supermarket news under the top 75 retailers and wholesalers in 2012.
Harris Teeter And The Kroger Merger –
In 2013-14, Kroger bought Harris Teeter and now Harris Teeter, though still retaining its name, is a fully owned subsidiary of Kroger. Harris Teeter operates in the Southern States and in pleasant regions too, with them being vacation hubs and having universities and growing population size. This provides Kroger access to stores in great locations. Harris Teeters’ presence from Nashville was removed by Kroger because they no longer were profitable as the competition grew, causing two stores to be closed and three to be changed to Kroger stores. It is said that Harris Teeter may have reaped more advantages because of the two merging but it is clear that both Harris Teeter and Kroger benefited from it.
Conclusion –
In these times, when everything is industrialized and most things have become about business, and revolve around things like profit, loss, buying, and selling. It has become very common for many new companies to start and for many companies to close down or merge with other companies. That is also the case with the Kroger Company and the Harris Teeter supermarkets. Kroger from early on has merged many brands with its name and has also added Harris Teeter to the list in 2013. This move proved to be profitable to both the companies and now Harris Teeter is operating under the Kroger company.
Frequently Asked Questions –
1) Does Kroger has stores in places other than the US?
Answer – No, Kroger is a US-based company and operates in many states in the US but not in other countries.
2) Does Kroger change its subsidiaries into Kroger stores?
Answer – No, Kroger doesn’t change its subsidiaries into Kroger stores if it’s not needed. Kroger doesn’t even change their name or the operating systems of the company. They let them continue as they were before the merger and only change them if it is necessary.
3) In how many states does Kroger operate?
Answer – Kroger operates in 35 states other than the District of Columbia.
4) Is Kroger the largest grocery store in the US?
Answer – No, Kroger is not the largest grocery store in the US. Kroger comes in second place after Walmart.
5) Is Kroger the oldest grocery store chain in the USA?
Answer – No, Kroger is not the oldest grocery chain in the USA but Kroger is the oldest grocery store chain in North America.
