Ingles Markets, Inc. (stylized as ingles) is an American supermarket chain based in Black Mountain, North Carolina. As of September 2021, the company operates 198 supermarkets in the Southeastern United States. The company is listed on the NASDAQ under the ticker symbol IMKTA and is part of the Global Select Market tier of trading. As an adjunct to its supermarket business, Ingles owns and operates shopping centers, gas stations and a milk processing plant. History The first Ingles store was opened by second-generation grocer Robert P. Ingle in 1963 and located in Asheville, North Carolina. Ingle had worked in his father's store since he was five years old and was unable to convince his father to build a large store. The younger Ingle had a vision of 4000 square feet. When Elmer Ingle died in the 1950s, Robert Ingle sold the store because his mother could not run it. Seven years later at age 29 Ingle decided to build a new 10,000-square-foot store. He would have to compete with larger chains and with independent stores that used cooperative distributors. To start his business, Ingle joined with his mother and sister, and they used all of their savings and a mortgage on the house. The first store opened on Hendersonville Road. In one year, that store was expanded, and in another year, a second location opened on Patton Avenue. Ingles was incorporated in 1965 in the state of North Carolina. In 1967 the company bought six Colonial supermarkets. In 1982, Ingles purchased a milk processing plant from Sealtest, which it operates as Milkco Inc., a wholly owned subsidiary. Two-thirds of Milkco's business, which was later expanded beyond dairy to include products such as citrus, tea, and bottled water, is from food service distributors, grocery warehouses, and independent specialty retailers located in 17 states as of 2010. Ingles became a publicly traded company in 1987. In the 2000s, the chain started building "Ingles Gas Express" gas stations with many of its newer stores. In February 2005, Ingles Markets announced it would restate financial statements for fiscal years 2002 and 2003 and the first three quarters of 2004, to correct the accounting for vendor allowances and certain other items. The restatement was a significant factor in the U.S. Securities and Exchange Commission (SEC) issuing a Wells notice to the firm in January 2006, indicating that it might bring enforcement action against it. A