Harris Teeter has announced that it is buying 7 Piggly Wiggly stores in South Carolina. Here is the press release with all the details:
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."
For additional information, see HarrisTeeter.com.