Harris Teeter Announces Agreement with Piggly Wiggly to Purchase Certain Assets
12 Septembre 2013 - 8:00PM
Business Wire
Harris Teeter Supermarkets, Inc. (NYSE:HTSI) (the “Company”)
announced today that its operating subsidiary, Harris Teeter, Inc.
(“Harris Teeter”), has entered into an agreement with Greenbax
Enterprises, Inc. (“Piggly Wiggly”) to purchase six Piggly Wiggly
store locations and one future store location in the Charleston,
S.C. area.
The Piggly Wiggly stores that Harris Teeter will acquire include
three stores in Charleston, S.C. located at 1739 Maybank Highway,
1985 Folly Road and 1005 Harbor View Road; two stores in Mount
Pleasant, S.C. located at 1220 Ben Sawyer Boulevard and 1981
Riviera Drive; the Newton Farms location on Kiawah Island, S.C.;
and one store location under construction in Isle of Palms, S.C.
located at 1513 Palm Boulevard.
The transaction is expected to be completed in October 2013.
Harris Teeter plans to close the acquired stores for three to four
days for stocking and training of employees. The pharmacies at the
acquired stores will remain open throughout the transition.
Thomas W. Dickson, Chairman of the Board, and Chief Executive
Officer, commented that, “Piggly Wiggly has a long tradition of
operating customer-friendly stores in Charleston. These store
locations and the dedicated associates who work in them make this
an especially attractive transaction for Harris Teeter. We plan to
remodel and expand a number of these locations to create brand new
Harris Teeter stores to serve our customers. Charleston is a
growing and vibrant market, and we look forward to continuing to
expand our presence in the region."
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain statements that constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements can be
identified by the fact that they do not relate strictly to
historical or current facts and often use words such as “may,”
“plan,” “contemplate,” “anticipate,” “believe,” “intend,” “expect,”
“estimate,” and similar expressions. Forward-looking statements
include, among other things, assumptions regarding the closing of
the transaction and estimates regarding the estimated expenses and
impairment losses.
These forward-looking statements express management’s current
expectations or forecasts of future events and, by their nature,
are subject to risks and uncertainties and there are a number of
factors that could cause actual results to differ materially from
those in such statements. Factors that may cause actual results to
differ materially from such forward-looking statements include, but
are not limited to, circumstances associated with the sale
including a delay in closing, the failure to satisfy the closing
conditions such as the continued employment of certain individuals,
the performance of the parties under certain covenants contained in
the Agreement, or obtaining an approval that may be required for
the proposed sale or obtaining an approval subject to conditions
that are not anticipated, and the potential for unanticipated
charges not currently expected that may occur prior to the time of
closing or that charges may change based on factors existing at the
time of closing. These forward-looking statements are not
guarantees of future results or performance and involve certain
risks and uncertainties that are based on management’s beliefs and
assumptions and on the information available to the Company at the
time that this release was prepared. Actual outcomes and results
may differ materially from those expressed in, or implied by, any
of these forward-looking statements. The Company does not assume
any duty to update these statements as of any future date or revise
any forward-looking statements.
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.
Harris Teeter Supermarkets, Inc.John B. Woodlief,
704-844-3100Executive Vice Presidentand Chief Financial
OfficerorPiggly Wiggly Carolina CompanyChristopher Ibsen,
843-554-9880 x8118Director of Corporate
Affairschristopheribsen@thepig.net
Harris Teeter Supermarkets, Inc. (NYSE:HTSI)
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