The Richmond Times Dispatch reports that both Ukrop’s Super Markets chairman James E. Ukrop and president/CEO Robert S. Ukrop have categorically denied rumors that the family-owned company may be for sale.
"We can assure you that we have not spoken or talked to a single company, broker or banker about the possibility of selling our company. End of story," said Jim Ukrop.
"I echo what he told you,” added Bobby Ukrop.
According to the Times Dispatch piece, “Richmonders have speculated on and off for years about a potential sale of Ukrop's…but rumors about the family-owed chain selling have taken on a life of their own since July.” Speculation about a sale usually centers on companies that include Harris Teeter, Wegmans, Publix, Genuardi's, or Giant Eagle.
"We can assure you that we have not spoken or talked to a single company, broker or banker about the possibility of selling our company. End of story," said Jim Ukrop.
"I echo what he told you,” added Bobby Ukrop.
According to the Times Dispatch piece, “Richmonders have speculated on and off for years about a potential sale of Ukrop's…but rumors about the family-owed chain selling have taken on a life of their own since July.” Speculation about a sale usually centers on companies that include Harris Teeter, Wegmans, Publix, Genuardi's, or Giant Eagle.
- KC's View:
-
Normally in these cases, we take a “where there’s smoke, there’s fire” approach.
But not on this one.
Our experience has been that the Ukrop’s folks are among the straightest shooters in the business, and we have no reason to doubt them this time.
The day a company like Ukrop’s cannot or will not survive as an independent retailer will be a sad day for this industry. We fervently hope it never comes.
