Lowe’s Foods was founded in 1954 in Wilkesboro, North Carolina by Jim Lowe.
Lowe sold that store to J.C. Faw Expansion, who expanded the store to a chain. In 1984 the chain was sold again, this time to Merchant Distributors, Inc (MDI). In 1992, MDI was reorganized as a holding company, Alex Lee, Inc.
Alex Lee expanded Lowe’s Foods with the 1997 acquisition of Byrd’s Food Stores, Inc, subsequently turning 43 Byrd’s stores into Lowe’s stores.
In 2007 Lowe’s began to open fuel stations at their grocery stores.
In 2011 Lowe’s opened a series of stores for the budget-conscious consumer, called Just $ave.
Today Lowe’s Foods is a grocery store chain based in Winston-Salem, North Carolina. The company has 100 stores in North Carolina, South Carolina, and Virginia. Lowe’s Foods is #169 on CNN Money’s Global 500, has 197, 500 employees, and had $48.815 billion in revenue in 2010.