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Gamco Boosts Ingles Stake to 18%

ASHEVILLE, N.C. — A New York-based investor has increased its stake in Ingles Markets here to more than 18% of the company’s outstanding shares, according to financial documents filed with the Securities and Exchange Commission.

Jon Springer, Executive Editor

September 30, 2011

1 Min Read
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JON SPRINGER

ASHEVILLE, N.C. — A New York-based investor has increased its stake in Ingles Markets here to more than 18% of the company’s outstanding shares, according to financial documents filed with the Securities and Exchange Commission.

Two funds associated with Rye, N.Y.-based Gamco Investors acquired more than 1.2 million Ingles shares in a series of stock purchases made in August and September worth more than $18 million, the filing said. The purchases came while Ingles stock was trading near 52-week lows.

Gamco, operated by Mario Gabelli, is a long-time investor in closely held Ingles.

About the Author

Jon Springer

Executive Editor

Jon Springer is executive editor of Winsight Grocery Business with responsibility for leading its digital news team. Jon has more than 20 years of experience covering consumer business and retail in New York, including more than 14 years at the Retail/Financial desk at Supermarket News. His previous experience includes covering consumer markets for KPMG’s Insiders; the U.S. beverage industry for Beverage Spectrum; and he was a Senior Editor covering commercial real estate and retail for the International Council of Shopping Centers. Jon began his career as a sports reporter and features editor for the Cecil Whig, a daily newspaper in Elkton, Md. Jon is also the author of two books on baseball. He has a Bachelor of Arts degree in English-Journalism from the University of Delaware. He lives in Brooklyn, N.Y. with his family.

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