Ruddick Corp. Sells American & Efird To KPS Capital Partners

Charlotte-based holding company Ruddick Corp. will sell its subsidiary American & Efird Inc.
(A&E) — a Mount Holly, N.C.-based manufacturer and distributor of industrial sewing thread,
embroidery thread, technical textiles and consumer products — to New York City-based investment
firm KPS Capital Partners LP through a newly created affiliate, A&E Global. The $180 million
acquisition is expected to be completed by the first quarter of 2012 and is subject to closing

A&E has been in business for 120 years and has 31 manufacturing centers and 76
distribution points in 41 countries. Its sewing thread is used in apparel, automotive components,
home furnishings, medical supplies, footwear and industrial products, among other applications; and
many of its products are certified according to Oeko-Tex® Standard 100.

Ruddick Corp.’s other primary business is Harris Teeter Inc., a regional chain of
supermarkets located in the Southeastern and Mid-Atlantic United States. In announcing the sale,
Ruddick stated that with A&E’s considerable growth in Asia, it has become more of a complex
international manufacturing company and no longer strategically fits in its business portfolio with
Harris Teeter.

“We are pleased to have reached an agreement with KPS regarding their acquisition of
A&E,” said Thomas W. Dickson, president, CEO and chairman of the Board, Ruddick Corp. “This
transaction allows the management team and their associates at A&E to continue to pursue their
strategic plan of transforming A&E into a more Asian-centric enterprise, which has been years
in the making.”

“We are excited to create a new, independent A&E Global,” said Michael Psaros, managing
partner, KPS Capital Partners. “Rarely have we seen a North American enterprise so successfully
globalize by capitalizing on its numerous competitive advantages and following its customers
abroad, while still retaining its core values. The company is ideally positioned to benefit from
the growth of the world’s fastest growing markets. A&E’s exceptional high-quality product
offering, superior customer service, global footprint, operational and technical expertise and
customer base, together with financial resources provided by KPS, will accelerate A&E’s success
and growth in the global marketplace.”

November 1, 2011