Ukrop’s Inks Deal to Sell its Stores

by Susan on 12/23/09 at 11:51 am

After months of rumor, innuendo and speculation, the deal is finally done.  During a press conference on December 17, the Ukrop family of Richmond, Virginia announced that they were selling 25 of their upscale and family-owned grocery stores.  A local fixture for more than 70 years, Ukrop’s inked a deal to sell the stores,  inventory, equipment and lease agreements to the Giant-Carlisle division of Dutch-owned Ahold  USA.  Giant-Carlisle operates 152 supermarkets in Virginia, Maryland, Pennsylvania and West Virginia, under the names Giant, Martin’s and Giant to Go.

Bobby Ukrop, president and CEO of the much beloved supermarket chain, said the time was right for the family to get out of the retail food business.  The economic climate in central Virginia made it difficult for Ukrop’s to compete against the influx of newcomers to the market, including Trader Joe’s and Whole Foods, as well as mass merchandisers such as Walmart.

The sale should be finalized in the first quarter of 2010.  Of particular interest to loyal Richmond shoppers is whether the new owners will open on Sunday and sell liquor. Ukrop’s does neither.

Ukrop said the family would continue to operate its commercial kitchen and bakery, producing their gourmet “to go” meals and its popular selection of breads, cakes and pastries.  The new owners had agreed to carry these products under the Ukrop’s name in the new stores.

Richmond is mourning its latest retail loss.  The Ukrops family and their time-honored traditions will be missed by everyone whose lives they touched.  They may not have been the cheapest grocery in town, but they cared about their customers, local agriculture and farming, and  the community as a whole.

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