Ingles Markets urges shareholders to vote for company director candidates

Ingles Markets has filed a definitive proxy statement with the Securities and Exchange Commission in connection with its upcoming Annual Meeting of Shareholders scheduled to be held on April 30, 2026. The company said, “In conjunction with the filing of the definitive proxy statement, Ingles’ Board of Directors is mailing a letter to shareholders, which reviews critical information for shareholders to consider ahead of the Annual Meeting, including: Ingles Markets is demonstrating resilience, discipline and long-term focus reflected in its improved first quarter fiscal 2026 results: These results included year-over-year net sales growth, increased same store sales, expanded gross profit, nearly doubled net income, increased EBITDA and a strong balance sheet. The Company is executing a long-term strategy that is delivering significant shareholder returns: Ingles’ total shareholder returns have outperformed grocery peers and exceeded relevant benchmarks across 1-, 5- and 10-year periods. The Company is investing for the future to deliver sustained value creation: Ingles’ strong financial footing is a key competitive advantage, enabling a long record of capital returns as well as investments that position Ingles for future profitable growth – investments in technology, stores, equipment and real estate. The Board has nominated two highly qualified, independent directors with relevant experience to advance Ingles’ strategy: Dwight Jacobs and Rebekah Lowe bring complementary operational, financial, real estate and human capital expertise aligned with Ingles’ strategy and all shareholders’ interests. We believe members of the Sackler family and their representative, Rory Held, are NOT right for Ingles and that any association with them would lead to value destruction for Ingles: The Sacklers’ Purdue Pharma and its OxyContin drug contributed substantially to the devastating harm caused by opioids in Ingles’ communities. We believe that electing the Sacklers’ representative, Rory Held, to the Company’s Board would undermine the trust communities and customers have in Ingles, reduce sales and compromise our future. Based on Rory Held’s communications to Ingles, we do not believe Summer Road is interested in long-term value creation: In our view, their narrow and short-sighted financial playbook is not the best way to deliver significant, enduring value for Ingles or our stakeholders, including our shareholders, associates, customers and communities.”