Harris Williams & Co. advises Ukrop's Super Markets, Inc. in its sale to Giant-Carlisle
Harris Williams & Co. announces the sale of 25 Ukrop's Super Markets, Inc.(Ukrop's) stores to the Giant-Carlisle Division of Royal Ahold, an international group of leading supermarket companies based in Europe and the United States. The transaction, valued at approximately $140 million, closed on February 8, 2010. Harris Williams & Co. acted as the exclusive advisor to Ukrop's. The transaction was led by Chris Williams, Derek Lewis and John Klim from the firm's Richmond office.
"Ukrop's has been serving central Virginia for more than 70 years and is recognized throughout the industry for its innovation and service. It was a privilege to work with the Ukrop family who has given so much to the community," said Chris Williams, managing director and co-founder of Harris Williams & Co. "This partnership will continue the heritage that the Ukrop family has built."
Ukrop's is a privately-held business founded and headquartered in Richmond, Virginia since 1937. The company has a longstanding commitment to customer and community service and has been a pioneer in both loyalty marketing and meal solutions when it launched its Valued Customer program in 1987 and its chilled prepared foods in 1989.