Ingles

This article is about an American supermarket chain. For the town in Gran Canaria, see Playa del Inglés.
Ingles Markets Inc.
Type Public
Traded as NASDAQ: IMKTA
Industry Retail - Grocery
Founded 1963
Headquarters Black Mountain, North Carolina, United States
Number of locations 201
Area served Alabama, Georgia, North Carolina, South Carolina, Tennessee, Virginia
Key people Robert P. Ingle II (CEO), James W. Lanning (President)
Products Laura Lynn[1] (private label)
Services Real estate, dairy and beverage processing[2]
Revenue $3.39 billion (2010)[2]
Net income $31.7 million (2010)[2]
Employees 16,100 (2006)
Subsidiaries Milkco, Inc.
Website ingles-markets.com

Ingles Markets is an American regional supermarket chain based in Asheville, North Carolina. 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 Ingles family.[2]

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

Contents

Locations

Ingles operates 201 stores in six states:[2]

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

History

Ingles began in 1963 when Robert "Bob" Ingle opened its first location in Asheville, North Carolina. Ingles 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.[3] 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.

Following the death of Robert Ingle on March 6, 2011,[4] his son Robert P. Ingle II became CEO.[5]

References

  1. ^ a b "All About Ingles". Ingles Markets. http://www.ingles-markets.com/all_about_ingles/. Retrieved 2011-03-11. 
  2. ^ a b c d e f g h i "Ingles Markets: What Makes It Something Special?". Seeking Alpha. http://seekingalpha.com/article/245889-ingles-markets-what-makes-it-something-special. Retrieved 2011-03-11. 
  3. ^ "All About Ingles: Milkco Inc.". Ingles Markets. http://www.ingles-markets.com/all_about_ingles/milkco.php. Retrieved 2011-03-11. 
  4. ^ Motsinger, Carol (6 March 2011). "Bob Ingle, founder of Asheville-based Ingles grocery chain, dies". Asheville Citizen-Times. http://www.citizen-times.com/article/20110306/NEWS01/303060082/Bob-Ingle-founder-Ingles-grocery-chain-dies?odyssey=mod|breaking. Retrieved 2011-03-06. 
  5. ^ "Robert P. Ingle, Founder of Ingles Markets, Incorporated Dies at Age 77". Press release. Ingles Markets. March 7, 2011. http://www.ingles-markets.com/press_releases/press_releases_03_07_2011.php. Retrieved 2011-03-11. 

External links