{"id":950717,"date":"2026-04-13T08:04:15","date_gmt":"2026-04-13T12:04:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ingles-markets-highlights-the-strength-of-its-two-new-highly-qualified-director-candidates-and-shareholder-returns\/"},"modified":"2026-04-13T08:04:15","modified_gmt":"2026-04-13T12:04:15","slug":"ingles-markets-highlights-the-strength-of-its-two-new-highly-qualified-director-candidates-and-shareholder-returns","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ingles-markets-highlights-the-strength-of-its-two-new-highly-qualified-director-candidates-and-shareholder-returns\/","title":{"rendered":"Ingles Markets Highlights the Strength of Its Two New, Highly-Qualified Director Candidates and Shareholder Returns"},"content":{"rendered":"

<\/p>\n

Ingles Markets Highlights the Strength of Its Two New, Highly-Qualified Director Candidates and Shareholder Returns<\/b><\/p>\n

Urges Shareholders to Vote \u201cFOR\u201d ONLY Ingles\u2019 Director Candidates on the WHITE Proxy Card<\/i><\/p>\n

Warns that Any Sackler Employed Representative on the Ingles Board is Expected to be Value Destructive for the Company<\/i><\/p>\n

ASHEVILLE, N.C.–(BUSINESS WIRE<\/a>)–
\nIngles Markets, Incorporated (NASDAQ: IMKTA) today mailed a letter to shareholders in connection with its upcoming Annual Meeting of Shareholders (\u201cAnnual Meeting\u201d) scheduled to be held on April 30, 2026.<\/p>\n

\nThe full text of the letter follows:<\/p>\n

\nDear Fellow Ingles Shareholders,<\/p>\n

\nIngles Markets\u2019 2026 Annual Meeting of Shareholders is rapidly approaching, and your vote is critical to the future of the Company.<\/p>\n

\nAs you may be aware, Summer Road LLC, an investment vehicle for the notorious Sackler family, has put forward its employee, Rory Held, as a director nominee. Summer Road has tried to hide that it is controlled by members of the Sackler family and was formed solely to benefit their interests. This is the same Sackler family whose company, Purdue Pharma, fueled the opioid epidemic.<\/p>\n

\nAs further reviewed below, we are deeply concerned by the potential value destruction that the Sacklers pose for your company \u2013 both by association and through their short-sighted financial engineering proposals for Ingles.<\/p>\n

To ensure we can continue delivering significant, enduring value for you, it is critical that you vote TODAY \u201cFOR\u201d Rebekah Lowe and Dwight Jacobs on the WHITE proxy card.<\/b><\/p>\n

Rebekah Lowe and Dwight Jacobs Are Experienced, Independent Candidates and Will Serve ALL Shareholders\u2019 Best Interests<\/b><\/p>\n

\nThe decision to nominate Rebekah Lowe and Dwight Jacobs as director candidates follows a robust process to identify individuals who can support Ingles\u2019 continued success and who share the values that have underpinned this success since Ingles\u2019 founding. They are highly qualified, independent thinkers with skills and experience to advance the Company\u2019s strategy.<\/p>\n

REBEKAH LOWE
\n
<\/b>25+ years experience leading large, customer-focused operations and guiding organizations for growth \u2013 experience that is highly applicable to a growing grocery company where human capital management and trusted customer relationships matter \u2013 and highly relevant public company board and board committee experience<\/p>\n

DWIGHT JACOBS
\n
<\/b>Seasoned public company C-suite and board leader whose blend of operational, supply chain, real estate and financial expertise is highly aligned with the needs of a grocery retailer navigating complex logistics, real estate portfolio management and margin pressures<\/p>\n

\nIn addition to these new independent directors, the Ingles Board is making other corporate governance enhancements with shareholder feedback in mind, including establishing a new Nominating and Governance Committee following the Annual Meeting.<\/p>\n

Ingles Has a Record of Outstanding Performance<\/b><\/p>\n

Ingles Markets has 60+ years of market leadership. The strength of our team and our strategy is reflected in Ingles\u2019 superior shareholder returns\u2026<\/b><\/p>\n\n\n\n\n\n\n
\n

Total Shareholder Returns1<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nYTD<\/p>\n<\/td>\n

\n

\n1-Year<\/p>\n<\/td>\n

\n

\n3-Year<\/p>\n<\/td>\n

\n

\n5-year<\/p>\n<\/td>\n

\n

\n10-year<\/p>\n<\/td>\n<\/tr>\n

\n

\nIngles Markets<\/p>\n<\/td>\n

\n

28.05%<\/b><\/p>\n<\/td>\n

\n

39.20%<\/b><\/p>\n<\/td>\n

\n

\n2.91%2 <\/sup>(Hurricane Helene period \u2013 \u201924, \u201825)<\/p>\n<\/td>\n

\n

\n44.55%<\/p>\n<\/td>\n

\n

191.91%<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nS&P SmallCap 600<\/p>\n<\/td>\n

\n

\n1.42%<\/p>\n<\/td>\n

\n

\n16.10%<\/p>\n<\/td>\n

\n

\n35.79%<\/p>\n<\/td>\n

\n

\n21.02%<\/p>\n<\/td>\n

\n

\n159.87%<\/p>\n<\/td>\n<\/tr>\n

\n

\nGrocer Peer Avg.3<\/sup><\/p>\n<\/td>\n

\n

\n11.59%<\/p>\n<\/td>\n

\n

\n5.08%<\/p>\n<\/td>\n

\n

\n37.18%<\/p>\n<\/td>\n

\n

\n77.38%<\/p>\n<\/td>\n

\n

\n144.44%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\u2026and financial results that are better than peers on substantially all core grocer metrics.<\/i><\/b><\/p>\n\n\n\n\n\n\n\n\n
\n

Relative 5-year Performance4<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Ingles<\/b><\/p>\n<\/td>\n

\n

Peers3<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nNet Sales Growth5<\/sup><\/p>\n<\/td>\n

\n

\n2.8%<\/p>\n<\/td>\n

\n

\n3.4%<\/p>\n<\/td>\n<\/tr>\n

\n

\nSame Store Sales Increase<\/p>\n<\/td>\n

\n

\n4.8%<\/p>\n<\/td>\n

\n

\n4.6%<\/p>\n<\/td>\n<\/tr>\n

\n

\nGross Profit as % of Sales<\/p>\n<\/td>\n

\n

\n3.3%<\/p>\n<\/td>\n

\n

\n2.3%<\/p>\n<\/td>\n<\/tr>\n

\n

\nOperating Margin Average<\/p>\n<\/td>\n

\n

\n4.8%<\/p>\n<\/td>\n

\n

\n3.4%<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet Income as % of Sales Average<\/p>\n<\/td>\n

\n

\n3.5%<\/p>\n<\/td>\n

\n

\n2.1%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

We Believe the Sacklers\u2019 Summer Road Creates Meaningful Risks for Ingles\u2019 Business\u2026<\/b><\/p>\n

\nHundreds of thousands of families in the communities we serve have been impacted by the opioid epidemic. The devastation caused by the Sacklers\u2019 OxyContin is recognized, remembered and reviled.<\/p>\n

\nWe have already heard customer concerns about the Sacklers\u2019 association with Ingles. History shows \u2013 when the Sacklers gain control of a company, severed business relationships and consumer backlash follow.<\/p>\n

\n\u201cSeven financial institutions terminated their banking or broker-dealer relationships<\/b> with the Richard Sackler family and associated business entities\u2026 over the risk that such relationships would become public to the detriment of their business.\u201d \u2013 Frank Vellucci, Summer Road\u2019s General Counsel6<\/sup><\/p>\n

\n\u201cDover Selectboard member Sarah Shippee said some may boycott Mount Snow in the future. \u2018I\u2019m horrified by what the Sacker family and Purdue Pharma have been accused of,\u2019 Shippee said. \u2018We\u2019ve certainly seen a tremendous amount of damage done by that just in our own community.\u2019\u201d7<\/sup><\/p>\n

If our customers turned away from Ingles in protest, and we lost 5% of sales, it would significantly impact Ingles\u2019 business \u2013 Ingles would lose ~$266M8<\/sup> of sales and ~$8.8M in profits.9<\/sup><\/b><\/p>\n

\u2026And We Believe Their Financial Engineering Proposals Risk Value Destruction<\/b><\/p>\n

Summer Road asserts that the greatest value creation opportunity is an \u201caggressive\u201d capital return. In the grocery industry, however, capital returns are one value lever, but not necessarily the \u201cgreatest.\u201d<\/b><\/p>\n