Business

Reports: Harris Teeter considers selling

Posted February 13, 2013 8:33 a.m. EST
Updated February 13, 2013 11:48 a.m. EST

— Supermarket chain Harris Teeter is reportedly considering putting itself up for sale, according to media reports.

Both The Wall Street Journal and the Reuters news service reported the story, citing sources.

A Harris Teeter spokeswoman told WRAL News that the company would have no comment on rumors regarding mergers and acquisitions.

The reports say Harris Teeter, which operates several stores in the Triangle area, has retained financial services firm JP Morgan to help determine strategic alternatives.

Harris Teeter and JP Morgan were not talking about the reports.

The stories sent Harris Teeter shares up 6.6 percent in value to $39.50 on Tuesday. Its shares trade on the New York Stock Exchange.

According to Reuters, possible buyers include larger grocery chains such as Kroger and Publix.