Ukrop's Leader Says Sale Talk is Based on Rumor

By WY Daily Staff Thursday, July 16, 2009

The head of the Ukrop's grocery store chain says not so fast on news the company is for sale.

Bobby Ukrop sent a memo to employees yesterday saying news reports the company is on the block are based on anonymous blog postings, rumors and industry chatter. To comment, he said, would only add fuel to the fire and leave him no time to do real work. Ukrop said there have always been companies interested in buying the Richmond-based 28-store chain.

A story published Tuesday by the online trade magazine Food World said multiple industry sources had confirmed that Ukrop's had offered a prospectus detailing "vital" company information to at least three companies that could be potential buyers.

The story said North Carolina-based Harris Teeter, Minnesota-based Supervalu and Netherlands-based Ahold are all potential suitors, though it put Harris Teeter in the lead.

Ukrop, in his memo, told employees "if anything changes with our company's direction, you and our customers will hear it from me and not from the rumor mill, blogs, or anonymous sources."

The Ukrop's chain has 28 grocery stores, most of which are in Richmond. The company has one store in Williamsburg since closing the newest store, which was on Mooretown Road, technically in York County.