Ingles Markets, Inc. is an American regional supermarket chain based in Black Mountain, North Carolina. As of January 2011, The company operates over 200 supermarkets in the Southeastern United States. The company, although listed on the NASDAQ, is family-controlled, with 86% of the voting power and nearly half of the shares owned by the Ingle family.
As an adjunct to its supermarket business, Ingles owns and operates shopping centers, gas stations and a milk processing and packaging plant.
History
The first Ingles store was opened by second-generation grocer Robert P. Ingle in 1963 Asheville, North Carolina. From the beginning, it was known as "Ingles" and not "Ingle's".
In 1982, Ingles purchased a milk processing and packaging plant from Sealtest, which it operates as Milkco Inc., a wholly owned subsidiary. Two-thirds of Milkco's business, which was later expanded beyond dairy to include products such as citrus, tea, and bottled water, is from food service distributors, grocery warehouses, and independent specialty retailers located in 17 states as of 2010. Ingles became a publicly traded company in 1987.
In the 2000s, the chain started building "Ingles Gas Express" gas stations with many of its newer stores.
In February 2005, Ingles Markets announced it would restate financial statements for fiscal 2002 and 2003 and the first three quarters of fiscal 2004, to correct the accounting for vendor allowances and certain other items. The restatement was a significant factor in January 2006 announcement that Ingles received a Wells notice from the U.S. Securities and Exchange Commission.
Following the death of Robert Ingle on March 6, 2011, his son Robert P. Ingle II became CEO.
In December 2012 and December 2013, the company collaborated with Eblen Charities' St. Nicholas Project on what they called "Ingles Toy Store," offering "toys, games, clothes and stocking stuffers" to needy North Carolina families.
Locations
Ingles operates 200 stores in six southeastern states:
- Alabama: 1
- Georgia: 71
- North Carolina: 71
- South Carolina: 36
- Tennessee: 21
- Virginia: 1
Ingles also owns and operates Sav-Mor Foods, which includes seven locations in North Carolina and one each in South Carolina and Tennessee.
Substantially all of Ingles' stores are located within 280 miles (450Â km) of its warehouse located in Black Mountain, North Carolina.
Competition
Local competitors include Harris Teeter, Bi-Lo, Kroger, Food City, Food Lion, Lowes Foods, Publix, and United Grocery Outlet.
References
External links
- Official website
