Ingles Markets is a regional supermarket chain operating 194 stores across six southeastern states, primarily North Carolina, Georgia, and South Carolina. Stores operate under the "Ingles" banner, with nine smaller-format locations under the "Sav-Mor" name. Ingles sells a standard full-service supermarket assortment — grocery, meat, dairy, produce, deli, bakery, pharmacy, and fuel — directly to retail customers, with no meaningful wholesale channel. Retail grocery accounts for roughly 96% of total revenue. Beyond the core supermarket business, Ingles owns and operates a fluid dairy plant that supplies about 65% of the milk sold in its own stores and sells roughly 81% of its output to outside retailers across 18 states. Ingles also owns the real estate for 174 of its 194 stores, typically as the anchor tenant in company-owned shopping centers, generating rental income from third-party tenants. Ingles' business model benefits from several integrated cost advantages: the company supplies roughly 59% of store inventory through its own distribution center near Asheville, NC, owns its trucking fleet, and sells private label products under the "Laura Lynn" and "Harvest Farms" brands at higher margins than national brands. All stores sit within 280 miles of the Asheville distribution hub, keeping logistics efficient. With 106 co-located fuel stations and 112 in-store pharmacies, Ingles focuses on one-stop convenience, particularly in smaller and mid-size southeastern communities.