Ukrop's Food Group
| Company type | Private |
|---|---|
| Industry | Bakery, Prepared foods |
| Founded | 1937 |
| Founder | Joseph Ukrop |
| Fate | Sale of supermarket chain to Giant-Carlisle in 2010; continues as bakery and prepared foods brand |
| Headquarters | Richmond, Virginia , United States |
| Products | Baked goods, ready-to-eat meals |
Ukrop's is a U.S.-based enterprise that manages a central bakery and kitchen, manufacturing baked products and ready-to-eat meals under the Ukrop's and Good Meadow labels. In 1976, the company purchased Dot's Pastry Shop, a prominent bakery in Richmond, which was subsequently renamed Ukrop's Bakery.
Between 1937 and 2010, the Ukrop family operated a chain of supermarkets known as Ukrop's Super Markets across Richmond and nearby regions. They eventually sold their grocery retail business to Giant-Carlisle, a division of the Netherlands-headquartered corporation Ahold, which rebranded these outlets as Martin's Food Markets.
History
Established in 1937 by Joseph Ukrop, Ukrop's Super Markets expanded to 26 locations mainly centered in Richmond, with additional stores in Williamsburg, Colonial Heights, Petersburg, and Fredericksburg. Due to insufficient sales and weak brand presence, stores in Williamsburg and Roanoke were shuttered in 2009. The company also ran Joe's Market, a specialty store named after its founder. Leadership roles included James Ukrop as chairman—Joseph’s son—and Robert Ukrop serving as president and CEO.
The chain was notable for its policy of closing on Sundays and abstaining from alcohol sales, which limited revenue opportunities compared to competitors. Nevertheless, Ukrop's maintained a leading market position in Richmond, earning a reputation for outstanding customer service along with high-quality baked goods and prepared food selections.
Sale of Ukrop's
On December 17, 2009, Ukrop's declared the sale of all twenty-five supermarket locations to Giant-Carlisle, part of the Dutch conglomerate Ahold, for $140 million. This transaction marked the end of the Ukrop family's involvement in retail grocery. The acquisition was finalized on February 8, 2010. By spring 2010, the Ukrop's name was replaced by Giant-Carlisle’s Martin's branding. Nonetheless, Ukrop's Bakery continues to produce certain baked items under its original name. The sale did not include the Fredericksburg store, which subsequently closed; meanwhile, the only Joe's Market location was sold to former staff who reopened it as Libbie Market.
As of September 30, 2009, Ukrop's reported total assets valued at $233 million with liabilities amounting to $145.9 million.