Retail  December 9, 2019

Kroger to divest ownership stake in Lucky’s Market

Trish Sharon, left, and her husband, Bo, pose in one of the Lucky’s Market stores in Hunter’s Creek, Florida. They were present for the dual opening of Lucky’s Markets in Hunter’s Creek and Winter Park, Florida, in October 2018. Courtesy Lucky’s Markets
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This story was updated at 1:06 p.m. with comments from Lucky’s Market.

NIWOT — Grocery giant Kroger Co. (NYSE: KR) will sell its ownership stake in Niwot-based Lucky’s Market, 3½ years after making a “meaningful investment” in the natural-grocery chain.

Kroger announced the divestment in its third-quarter financial report to the U.S. Securities and Exchange Commission.

“As part of a portfolio review, we made the decision to evaluate strategic alternatives in relation to our investment in Lucky’s Market,” Gary Millerchip, Kroger’s senior vice president and chief financial officer, said during an earnings conference call. “As a result…

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Christopher Wood
Christopher Wood is editor and publisher of BizWest, a regional business journal covering Boulder, Broomfield, Larimer and Weld counties. Wood co-founded the Northern Colorado Business Report in 1995 and served as publisher of the Boulder County Business Report until the two publications were merged to form BizWest in 2014. From 1990 to 1995, Wood served as reporter and managing editor of the Denver Business Journal. He is a Marine Corps veteran and a graduate of the University of Colorado Boulder. He has won numerous awards from the Colorado Press Association, Society of Professional Journalists and the Alliance of Area Business Publishers.
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