Ukrop's Food Group

Ukrop's is an American company that operates a central bakery and kitchen producing baked goods and prepared meals. Its baked goods are marketed under Good Meadow and Ukrop's brand. In 1976 Ukrop's bought Dot's Pastry Shop, a well-known bakery in Richmond. It used the name Dot's Pastry Shop for years before changing it to Ukrop's Bakery.

Ukrop's Food Group
Family business
IndustryRetail
Founded1976
HeadquartersRichmond, Virginia, United States
ProductsFood company
Number of employees
5,000
Websitewww.ukropshomestylefoods.com

From 1937 to 2010 the Ukrop family operated supermarkets in Richmond and its surrounding area under the corporate name Ukrop's Super Markets, but the family sold its retail grocery operations to Giant-Carlisle, a subsidiary of Netherlands-based Ahold. The name was changed to Martin's.

History

Ukrop's Super Markets was founded in 1937 by Joseph Ukrop. The company had 26 stores,[1] mostly in the Richmond area, as well as one store in Williamsburg, and one each in Colonial Heights, Petersburg, and Fredericksburg. An additional Williamsburg location[2] and a Roanoke location[3] closed during 2009 due to low sales and limited brand recognition in those cities. Ukrop's also operated a specialty store in Richmond called Joe's Market, named after the founder. The company chairman is James Ukrop, son of Joseph; James' brother Robert is president and chief executive officer.

Ukrop's stores were closed on Sundays and did not sell alcohol, limiting the stores' sources of revenue compared to other retail supermarkets.[4] Nevertheless, the store held a dominant sales share in the Richmond area and was a cultural touchstone for generations of local residents, most notably in their reputation for customer service, baked goods and prepared foods.[5][6]

Sale of Ukrop's

On December 17, 2009, Ukrop's announced that the Giant-Carlisle Division of the Dutch-based conglomerate Ahold would acquire all twenty-five of Ukrop's stores for $140 Million. This marked the end of the Ukrop family's retail venture. The sale was finalized on February 8, 2010.[7] The transition away from the use of the Ukrop's store name to Giant-Carlisle's Martin's brand took place in the spring of 2010. However, certain baked goods are still produced by Ukrop's Bakery division and labeled as such. The transaction did not include the Ukrop's store in Fredericksburg, which closed. The lone Joe's Market store owned by the chain was sold to two former Ukrop's employees, who reopened it as Libbie Market.

As of September 30, 2009, the company's assets were listed as $233 million, with liabilities of $145.9 million.[8]

gollark: So the price should probably just stay the same, all else being equal.
gollark: So production will be downscaled, but demand will be lower too.
gollark: If there's less gas demanded then... price will go *down*...
gollark: I mean, carbon dioxide is an externality. And economics generally says you should tax those.
gollark: Nuclear cars are the future of cars. Just have a big lump of plutonium to heat up water to drive turbines.

References
  1. Archived November 15, 2009, at the Wayback Machine
  2. Bowman, Rex (31 December 2008). "Ukrop's to close one Williamsburg store". The Virginian-Pilot. Retrieved 25 October 2017.
  3. "Ukrop's to close Roanoke location - Roanoke.com". Archived from the original on September 18, 2012. Retrieved May 9, 2019.
  4. "Ukrop's CEO dismisses reports that grocery chain is for sale | Richmond Times-Dispatch". Archived from the original on July 19, 2009. Retrieved May 9, 2019.
  5. Times-Dispatch, TAMMIE SMITH Richmond. "Richmond 'Grocery Wars' wrapup: The loss of Ukrop's still stings". Retrieved 10 January 2018.
  6. Times-Dispatch, TAMMIE SMITH Richmond. "'It's kind of sad. It's a legacy if you trace it back to the Ukrop's': Martin's ends its 7-year run in Richmond". Retrieved 10 January 2018.
  7. "Ukrop's sale completed; Sunday openings planned". Richmond Times-Dispatch. February 8, 2010. Archived from the original on February 11, 2010. Retrieved February 8, 2010.
  8. "Ukrop's to sell 25 stores for $140 million". Richmond BizSense. 2009-12-17. Archived from the original on 2013-05-10. Retrieved 2013-11-18.
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