Ingles Markets, Incorporated (NASDAQ: IMKTA) sent a letter to shareholders ahead of its April 30, 2026 annual meeting, urging them to vote for the company's director candidates Rebekah Lowe and Dwight Jacobs on the white proxy card.

The grocery chain opposes a director nominee put forward by Summer Road LLC, an investment vehicle controlled by members of the Sackler family. Summer Road has nominated Rory Held, one of its employees, for a board position.

Ingles highlighted concerns about potential customer backlash related to the Sackler family's association with Purdue Pharma and the opioid crisis. The company stated it has already received customer concerns about the Sacklers' connection to Ingles.

The company provided financial performance data showing total shareholder returns of 28.05% year-to-date and 39.20% over one year. Ingles reported a 10-year total shareholder return of 191.91%, compared to 159.87% for the S&P SmallCap 600 and 144.44% for grocery peers.

Ingles presented its director candidates as experienced professionals. Rebekah Lowe brings over 25 years of experience in customer-focused operations and public company board experience. Dwight Jacobs has C-suite and board leadership experience in operations, supply chain, real estate and finance.

The company criticized Summer Road's proposals for what it termed "aggressive" capital returns and real estate separation, arguing these could harm the grocery business. Ingles stated that owning real estate provides operational control, flexibility, stronger balance sheets and rental income opportunities.

Ingles operates 197 supermarkets across six southeastern states and is headquartered in Asheville, North Carolina. The company also operates shopping centers and a dairy facility.