Tom’s Market in Yellow Springs to become cooperatively owned under new agreement

Tom's Market, a longtime local staple in downtown Yellow Springs, may become a co-op as part of an agreement with the Yellow Springs Community Foundation. FILE

Tom's Market, a longtime local staple in downtown Yellow Springs, may become a co-op as part of an agreement with the Yellow Springs Community Foundation. FILE

Both the Yellow Springs Community Foundation and Tom’s Market owner Jeff Gray have signed a letter of intent for the foundation to purchase the business from Gray. The foundation has a 90-day due diligence period before the purchase can be finalized, Community Foundation project manager Kumar Jensen said.

While the exact details are to be hammered out, the foundation said it plans to transition the business into a community owned operation within the next two years. The foundation is working with Co-op Dayton, the same group that founded Gem City Market, as well as the Food Cooperative Initiative.

The organization held a town hall in January that was attended by roughly 250 people, the overwhelming majority of whom were in favor of a plan to keep Tom’s Market downtown, open and locally owned, Jensen said.

“I used to run a bunch of public meetings…that was the nicest 250 people I’ve ever been in a room with,” Jensen added. “They thought it was important to continue investment and maintain a grocery store in town via some community ownership model.”

Jeff Gray, the current owner of Tom's Market in Yellow Springs, speaks during a town hall about the decision to pursue a co-op model for the beloved grocery store. SCREENSHOT

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At the town hall, Gray – who took over the store a few years ago from his father and the shop’s namesake, Tom Gray – said that he had done so as his dad had decided to retire.

“Running that store for now five years almost … I have a lot more respect for him I than I ever had. And I had a lot of respect and now it’s over the top,” Jeff Gray said of his father at the town hall. “I’m looking at the future of Tom’s Market and the future of Yellow Springs … but to go forward and take this store into the future and where it needs to go for this community, I think someone with a lot more experience and knowledge with this industry is what is needed.”

Having a grocery store within the village is important to the folks who live there, Jensen said, adding that taking on Tom’s Market represents a positive investment for the foundation.

“It’s really critical to the vibrancy of the community,” he said. “It plays a food security role in that many people in town are not able to travel to get their groceries somewhere else.”

Tom’s Market has been a Yellow Springs staple since 2001, when Tom Gray bought the store from previous owner Bud Weaver, according to the store’s website. Tom started working at the market when he was 16 years old, and retired around 2022.

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