Ingles Markets Pushes Back on Activist Investment Firm

Battle between Ingles, Sackler-affiliated company heats up over grocery chain board seat • Asheville Watchdog

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Ingles Markets pushes back on activist investment firm

The grocer is urging shareholders to reject a candidate for its board of directors connected with the family that controlled opioid medication maker Purdue Pharma.

Ingles rejects Sackler-backed firm's board seat push

Ingles Markets, which is tightly controlled by the Ingle family, is facing an activist investor, the Summer Road private investment firm, that wants a seat on the supermarket chain’s board. Ingles responded by saying no thanks and attacking the owners of Summer Road, the Sackler family that controls Purdue Pharma, the maker of OxyContin. New York-based Summer Road says it has a 3% stake in Ingles. It said, “It is time for us to act to ensure we …