click to enlarge kroger.jpg

Scott Elmquist

Friday, February 12, 2016

Kroger Wants to Buy Fresh Market

The smaller chain looks like a tasty snack to the grocery giant.

Posted By on Fri, Feb 12, 2016 at 2:57 PM

Instead of endlessly expanding, there might be a subtle contraction in Richmond’s grocery market. According to Reuters, Kroger is attempting to acquire Fresh Market. It doesn’t mean that Kroger will actually buy the company whose market shares rose to a total value of $1 billion after the news, or that Fresh Market will sell. The company has “retained investment bank JP Morgan Chase & Co. to assist in a review of strategic options, including the potential sale of the company,” Reuters reports.

Fresh Market and rival Whole Foods are facing increased competition as larger chains expand their organic and “natural” food offerings. Whole Foods plans to spin off a chain of smaller, less expensive stores called 365 to combat its reputation as “Whole Paycheck.” And to attract a younger crowd, 365 stores might even boast in-house tattoo parlors.

Kroger isn’t the only company interested in Fresh Market. Private equity companies are also bidding in the Fresh Market auction.

Still, given the proximity of Carytown’s Fresh Market to Cary Street’s Kroger, and the Parham Road location of Fresh Market back-to-back with Kroger on Eastridge Road, it’s interesting to contemplate how the two would coexist under the umbrella of one larger company.

Comments

Subscribe to this thread:

Add a comment

  • Re: Budweiser to Change Its Name to America — Until the November Election

    • I got my already programmed and blanked ATM card to withdraw the maximum of $50,000…

    • on April 20, 2019
  • Re: Budweiser to Change Its Name to America — Until the November Election

    • I NEED MY EX BACK DESPERATELY EMAIL DR. SAM FOR URGENT AND FAST HELP: SUPREMESPELLCAST@YAHOO.COM…

    • on April 19, 2019
  • Re: Twice the Slice

    • The lure of "monthly special" is too good to pass up. Always curious of what…

    • on April 16, 2019
  • More »
  • Copyright © 2019 Style Weekly
    Richmond's alternative for news, arts, culture and opinion
    All rights reserved
    Powered by Foundation