After four decades, Ruddick Corp. is looking to shed its name and adopt that of its best-known (and now only) subsidiary: Harris Teeter Supermarkets Inc.
Charlotte-based Ruddick was founded in 1968 by brothers Alan and Stewart Dickson, and named for their late father, Rush Dickson. Until recently, Ruddick was a hybrid holding company, operating both the Harris Teeter chain of 204 stores and the American & Efird thread and textile company.
The supermarket part of the business brought in by far the larger share of revenue – 93 percent of the total in the third quarter, for example. In October, Ruddick, a Fortune 500 company, sold American & Efird to a private equity firm for $180 million.
To read the rest of the story, please go to: Charlotte Observer
