retail news in context, analysis with attitude

The Richmond Times Dispatch reports that Union Bankshares Corp. is betting that Ukrop’s, the iconic Virginia supermarket chain, is going to be sold.

According to the story, Union Bankshares is trying to acquire First Market Bank, which is currently majority owned by the Ukrop family. When it structured the offer for the bank, the company said, it factored in the likelihood that the retailer would be sold and rebranded and that such a sale would have an adverse effect on First Market Bank’s earnings and viability.

A possible sale of Ukrop’s has been much speculated about for the past month, though the company has been avoiding specific comments on the possibility.
KC's View:
There aren’t many people that I talk to who believe that this deal won’t eventually happen. It is all a matter of negotiation at this point.