Ukrop’s on the Block
Ukrop’s is one of the
regional grocery chains in the U.S. that operate stores other retailers
want to see. If reports are correct, those other merchants better make
travel arrangements to get to Richmond, Virginia quickly because Ukrop’s
is up for sale.
According to the Food
World trade publication, Ukrop’s has issued a prospectus to potential
buyers including Ahold, Harris Teeter and Supervalu. The chain operates
28 stores in Virginia with 25 in the capital city region. The other stores
are located in Fredericksburg, Roanoke and Williamsburg.
Jeff Metzger, publisher
of Food World, wrote that issuing a prospectus does not necessarily
guarantee a sale is imminent.
"There is no guarantee
that any bidder would pay the premium price that acquiring Ukrop’s would
likely demand. And even if that price were met, it wouldn’t be surprising
to see the deal be pulled by the Ukrop family which has a deep emotional
attachment to the community and to the company itself, which was founded
when Joe and Jacquelin Ukrop opened their first grocery store on Hull Street
in Richmond in 1937," Mr. Metzger wrote.
Ukrop’s recently saw its
share of the Richmond market slip from the top spot to number two. Among
the factors contributing to this is the chain’s policy of closing stores
on Sunday and it’s policy of not selling beer or wine.
Discussion Questions: What is your reaction
to a possible sale of Ukrop’s?
What does it say about the viability of grocery businesses like Ukrop’s
around the country?
- Ukrop’s Super Markets Reportedly
Exploring Sale Options For Its 28 Virginia Stores – Food World/Best-Met
- Report: Ukrop’s seeking potential buyers – Richmond
- Ukrop’s for sale? – Richmond