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QFC - The history
In 1955, Jack Croco who started his grocery business in 1940 established QFC in Seattle, Washington. At that time, he was working as the district manager of Albertson’s supermarkets. In 1956, he opened his store, which he named Lake Hills Thriftway.
Vern Fortin and his colleagues founded the original QFC in 1955. In 1960, Lake Hills Thriftway was sold to QFC. It was again sold to a Seattle based firm, Sloan, Adkins & Co for $34 million in 1986. During that time, the stores also started selling a wide variety of foods, and they were open 24/7. Sloan also renovated the existing stores, making them much more prominent. As at 1986, the annual revenue peaked at $158 million. The company expanded its stores, and by 1991, it owned 21 stores. An Asian store named Asian Choice Kitchen was also established. The company had a total of 33 stores by 1922. In 1994, it also bought Johnny’s Food Centers and Olson’s Food Stores.
The company was sold to Fred Meyer due to the financial breakdown in 1997. At that time, Christopher A. Sinclair was the CEO of the company. When Fred Meyer merged with The Kroger Co. in 1998, QFC also became a part of it.
The company began to expand its stores even before it was sold to Fred Meyer. In 1974, it bought A&P supermarkets in Seattle. In the 1990s, It purchased many stores like Olson’s Food Stores, Johnny’s Food Centers, Stock Market Grocery Stores and Thriftway Stores. All these stores were renamed as QFC. The number of stores peaked at 30 By 1996. The company also bought grocery stores in Port Hadlock and Port Townsend In 1997. The company also opened new stores in Portland, Oregon. Later, in the 1990s, QFC also obtained Hughes Family Markets, which retained its name.