Harris Teeter Announces Agreement with Piggly Wiggly to Purchase Certain Assets

  Harris Teeter Announces Agreement with Piggly Wiggly to Purchase Certain
  Assets

Business Wire

MATTHEWS, N.C. -- September 12, 2013

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.

Contact:

Harris Teeter Supermarkets, Inc.
John B. Woodlief, 704-844-3100
Executive Vice President
and Chief Financial Officer
or
Piggly Wiggly Carolina Company
Christopher Ibsen, 843-554-9880 x8118
Director of Corporate Affairs
christopheribsen@thepig.net
 
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