The rumors have circulated for weeks within the grocery industry concerning the potential sale of Ukrops Supermarkets to Ruddick Corporations wholly owned subsiderary Harris-Teeter. The there has not been an "official" confirmation of the sale, rumors circulated when Harris-Teeter evidently applied for the required ABC permits for 29 stores in the greater Richmond area.
Those growing up in Richmond have long been familiar with Ukrops and its non-alcohol policy as well as its policy of being closed on Sundays.
Harris Teeter operates over 170 stores in eight States and the District of Columbia. These States include North Carolina, Virginia, Deleware, Maryland, Georgia, Tennessee, Florida, and South Carolina. In Virginia, Harris Teeter operates 27 stores.
Harris -Teeter is based in Mathews , NC with Ruddick Corp., a NYSE company operating as a holding company for HT and A&E, Inc is located in Charlotte, NC.
Richmond has witnesed the successful entry of another North Carolina market in The Fresh Market located out of Greensboro, NC where Harris Teeter also has operations. While Fresh Market is not a true grocery concept, Harris-Teeter in recent years has reformated its stores to be "market-like" than grocery.
Fresh Market has stores in Richmond (West End/Midlothian), Roanoke, Williamsburg, Virginia Beach and a recently opened unit in Newport News. To date there are almost 90 Fresh Markets predominantly located through the Southeast.
"Official" word should break very soon on a deal that rumors have specualted could be in excess of 850 million.
Ruddick closed today at $22.60 (NYSE)
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