INGLES MARKETS INC. (IMKTA)
Key Summary: Ingles Markets (M. Cap: $732mm as of February 8, 2021) operates supermarkets in the southeastern US. GAMCO, a major shareholder, engaged in Board nomination activities from 2017 to 2018, eventually reaching an agreement with the company. GAMCO has since reduced its stake to 12.96% by February 2021.
$1.28 billion Ingles Markets, Incorporated (Ingles) is a supermarket chain in the southeastern United States.
- On October 27, 2017, GAMCO (16.89%) stated that it intended to submit nominations of one or more individuals for election to the Board. Source
- On November 14, 2017, GAMCO submitted a notice of intent to nominate two candidates for election to the Board at the company’s 2018 annual meeting of shareholders. Source
- On December 15, 2017, GAMCO filed a preliminary proxy statement with the Commission. GAMCO intended to solicit proxies to elect Mr. Justyn R. Putnam and Mr. John "Jack" R. Lowden to the Board at the 2018 Annual Meeting of the stockholders. Source
- On March 12, 2018, the company agreed to nominate Mr. John "Jack" R. Lowden for election to the Board at the 2018 Annual Meeting. As a result, GAMCO agreed to withdraw its nominees for election as directors at the 2018 Annual Meeting.
- On March 13, 2018, GAMCO filed a press release regarding the company’s 2018 Annual Meeting.
- On April 6, 2020, GAMCO reduced its stake to 13.97%.
- On February 8, 2021, GAMCO reduced its stake to 12.96%.
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