Harris Teeter out of the running
The North Carolina based grocery chain is no longer on the table as a potential buyer Ukrop’s. Looks like a private company will be taking the reins.
According to Supermarket News, Harris Teeter was outbid by a private equity group who is currently in exclusive negotiations with Ukrop’s. Word is that should the sale be finalized, the grocer will retain the name and maintain its practice of not selling alcohol and being closed on Sundays. No comment from the Ukrop clan at this point.
Read the full story here.
We’ll post updates as they come…
(Thanks to Richmond Good Life for the tip.)
Previous coverage
- Ukrop’s up for sale
- Richmond-Based Ukrop’s Up For Sale: Is Harris Teeter Buying?
- The Coming Ukropalypse Will Change Richmond’s Psychic Landscape
- Whither Ukrop’s?
- Changes…
- The recession and grocery store market share…
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Valerie Catrow
Valerie Catrow is editor of RVAFamily, mother to a mop-topped first grader, and always really excited to go to bed.
Notice: Comments that are not conducive to an interesting and thoughtful conversation may be removed at the editor’s discretion.
Where did you find out that they would continue to be closed on Sundays and not sell alcohol? I don’t see that mentioned anywhere in the news article.
Hey no need to hat tip me. I got it from Twitter too!
Good news for Richmonders who like brownie bites and a kick-ass salad bar. Bad news for Richmonders who live close to a Ukrop’s and always seem to run out of beer on Sunday.
I’m with Lauren, I need a cite for the “word is” the policies would continue… I haven’t seen that elsewhere.
“A private equity group,” eh? How mysterious. Can we assume that this private equity group is local? Because it would be pretty frustrating if nothing changed at Ukrop’s, except for the profits going straight out of town.
If the name and everything are staying the same, I wonder if their sponsorships around town (10k, etc.) will keep happening, too.
I doubt it, Valerie. I have some experience with private equity groups. Some people buy a house to fix up and flip; these private equity firms buy companies to fix up and flip. Sure, they may keep some things out of goodwill, but Ukrop’s spends way more on community donations than they should to stay competitive. A private equity group comes in and makes it lean and mean and increases profitability, and then turns around and sells it again in a few years for a nice profit. (Which is why I also think wine & beer and Sundays would NOT be off the table)