Ingles

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Ingles Markets Inc.
TypePublic
Traded asNASDAQIMKTA
IndustryRetail - Grocery
Founded1963
HeadquartersBlack Mountain, North Carolina, United States of America
Number of locations201
Area servedAlabama, Georgia, North Carolina, South Carolina, Tennessee, Virginia
Key peopleRobert P. Ingle II (CEO), James W. Lanning (President)
ProductsLaura Lynn[1] (private label)
ServicesReal estate, dairy and beverage processing[2]
Revenue$3.39 billion (2010)[2]
Net income$31.7 million (2010)[2]
Employees18,800 [1]
SubsidiariesMilkco, Inc.
Websiteingles-markets.com
 
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Ingles Markets Inc.
TypePublic
Traded asNASDAQIMKTA
IndustryRetail - Grocery
Founded1963
HeadquartersBlack Mountain, North Carolina, United States of America
Number of locations201
Area servedAlabama, Georgia, North Carolina, South Carolina, Tennessee, Virginia
Key peopleRobert P. Ingle II (CEO), James W. Lanning (President)
ProductsLaura Lynn[1] (private label)
ServicesReal estate, dairy and beverage processing[2]
Revenue$3.39 billion (2010)[2]
Net income$31.7 million (2010)[2]
Employees18,800 [1]
SubsidiariesMilkco, Inc.
Websiteingles-markets.com

Ingles Markets Inc. is an American regional supermarket chain based in Black Mountain, North Carolina.[3] As of January 2011, The company operates 201 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.[2]

As an adjunct to its supermarket business, Ingles owns and operates shopping centers and a milk processing and packaging plant.[2]

Locations[edit]

Ingles operates 203 stores in six states:[2]

Substantially all of Ingles' stores are located within 280 miles (450 km) of its warehouse located in Black Mountain, North Carolina.[2]

Sav-Mor Foods[edit]

Ingles also owns and operates Sav-Mor Foods.

Locations

History[edit]

Ingles began in 1963 when Robert "Bob" Ingle opened its first location in Asheville, North Carolina. Ingle was following in his father's footsteps, who had been in the grocery business until 1956.[1] In 1982, Ingles purchased a milk processing and packaging plant from Sealtest, which it operates as Milkco Inc., a wholly owned subsidiary.[4] 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.[2] Ingles became a publicly traded company in 1987.[2]

In the 2000s, the chain started building "Ingles Gas Express" gas stations with many of its newer stores.[citation needed]

In Feb 2005, Ingles Markets announced to restate financial statements for fiscal 2002 and 2003 and the first three quarters of fiscal 2004, to reflect the appropriate accounting for vendor allowances and certain other items.[5]

Following the death of Robert Ingle on March 6, 2011,[6] his son Robert P. Ingle II became CEO.[7]

References[edit]

  1. ^ a b "All About Ingles". Ingles Markets. Retrieved 2011-03-11. 
  2. ^ a b c d e f g h i "Ingles Markets: What Makes It Something Special?". Seeking Alpha. Retrieved 2011-03-11. 
  3. ^ "Contact Information." Ingles Markets. Retrieved on November 17, 2012. "2913 US Highway 70 W Black Mountain, NC 28711-9103"
  4. ^ "All About Ingles: Milkco Inc.". Ingles Markets. Retrieved 2011-03-11. 
  5. ^ "Ingles Markets, Inc To Restate Prior Periods". 
  6. ^ Motsinger, Carol (6 March 2011). "Bob Ingle, founder of Asheville-based Ingles grocery chain, dies". Asheville Citizen-Times. Retrieved 2011-03-06. 
  7. ^ "Robert P. Ingle, Founder of Ingles Markets, Incorporated Dies at Age 77". Press release. Ingles Markets. March 7, 2011. Retrieved 2011-03-11. 

External links[edit]