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Mid-Market Report: Kroger Buys Online Retailer Vitacost

By Morning Outlook FOXBusiness

Kroger (KR) is buying online retailer Vitacost.com for about $280 million, or $8 per share in cash.

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Kroger says Vitacost sells 45,000 products, including vitamins, herbs and supplements, to about 2.3 million active customers. The grocery-store operator says it will use Vitacost to enter new markets and distribution channels, along with the online order and pick-up service at its Harris Teeter chain.

Kroger expects the deal to close in the third quarter.       

P&F Industries (PFIN) is acquiring Exhaust Technologies for nearly $10.5 million.

P&F makes air-powered tools and residential hardware, while Exhaust Technologies sells pneumatic tools mainly to the automotive market. P&F says the deal will immediately add to earnings.

Shutterfly reportedly has put itself up for sale and has hired boutique investment bank Catalyst Partners to find a buyer. Shutterfly is an online photo-printing service.

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