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Fred's Inc. (stylized in all caps) was a retail store chain headquartered in Memphis, Tennessee, operating in 15 states in the southeastern United States. As of June, 2019 Fred's operated 396 locations, of which 155 were pharmacies, and the remainder discount general merchandise stores.
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In 1993, Dixons decided to throw in the towel on its investment, and sold a controlling stake in Silo for $45 million (~$85.7 million in 2023) to Fretter, Inc. Fretter was a Detroit, Michigan-based company, operating electronics stores under the Fretter's, YES!
It bought employee-owned Fred Schmid stores, giving the chain hold of markets in the mountain states. Fretter moved its corporate offices to Colorado and oversaw the merger from there. In 1993, Fretter also acquired their biggest competition of the time Silo Electronics , a company that had previously not turned a profit since the 1980s.
Middleby initiated assimilation of MagiKitch'n brands in 2010 to their commercial appliance line. [16] Middleby purchased TurboChef in 2008 in a deal reported to be worth $200 million. [17] It was reported by Bassoul that the purchase would strengthen the company's position as a leader in the food service equipment industry. [17]
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