Jim Ukrop at an event in 2015. (BizSense file photo)
Richmond has lost a legend of the local business community.
Jim Ukrop died Friday evening at the age of 89.
Perhaps best known for helping grow his family’s Ukrop’s Supermarkets grocery store chain into a beloved Richmond institution, Ukrop also made his mark in philanthropy, banking, venture capital and as a civic booster.
The John Marshall High School and College of William & Mary graduate served as CEO and chairman of his family’s namesake store, which expanded into dozens of locations under the leadership of Ukrop and his brother Bobby.
In the late 1990s, Ukrop helped co-found First Market Bank, which started as an in-house bank at Ukrop’s stores before selling to what is now Atlantic Union Bank in 2010.
That same year, the family sold the grocery business for a reported $140 million to the parent company of Martin’s, after which Ukrop shifted his focus to investments by founding venture capital firm New Richmond Ventures with fellow local business leaders Bob Mooney and Ted Chandler.
Officials at the state and local level shared their thoughts about Ukrop over the weekend as word of his death began to spread.
Gov. Abigail Spanberger said in a prepared statement: “Jim Ukrop leaves behind a large legacy of civic leadership and business acumen, and I know he will be profoundly missed by many in Richmond and across Virginia. He was a steadfast believer in investing in community and public education, and worked for many years on revitalizing Richmond.”
Richmond Mayor Danny Avula: “This weekend, Richmond lost an incredible leader, laborer, and friend. Jim Ukrop’s influence on the greater Richmond community has been profound. At a time when many business leaders found it easier to disengage from the city and its issues, Jim believed deeply in the importance of Richmond, and poured his time, energy, and resources into charting its course for the future.
“Jim poured himself into countless efforts, always helping open doors for others, and has had a tremendous hand in helping create the growing, vibrant Richmond of today. We celebrate a life well lived, and trust that Jim’s legacy of engagement, generosity, and compassion will inspire the next generation of community leaders in our city.”
William & Mary President Katherine A. Rowe: “Jim Ukrop was a lifelong innovator: pragmatic, savvy, and farsighted, and joyfully committed to the prosperity of his communities. His alma mater was the grateful beneficiary of his loyal leadership.”
In addition to his brother, Bobby, Ukrop is survived by his wife of more than six decades and fellow William & Mary grad, Barbara “Bobbie” Berkeley Ukrop, his sons, Scott and Ted, their respective wives, Lilo and Katie; and his five grandchildren and three great-grandchildren.
It’s unclear whether a public memorial will be held for Ukrop. Funeral arrangements had not yet been announced by the family as of press time.
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