Ruddick Completes Sale of A&E Biz To KPS Capital

Ruddick Corporation announced that it has completed the previously announced sale to two newly formed affiliates of KPS Capital Partners, LP of all of the Company's ownership interest in its American & Efird business, for $180 million in cash consideration, subject to adjustments for working capital and certain liabilities, including under funded pension liability and foreign debt as previously disclosed.

Ruddick Corporation is the parent company of Harris Teeter, Inc., a leading regional supermarket chain with operations in eight states primarily in the southeastern and mid-Atlantic United States, and the District of Columbia.

Aerican & Efird (A&E) is one of the world's largest global manufacturers and distributors of industrial sewing thread, embroidery thread and technical textiles, produced from natural and synthetic fibers.

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