50 years ago: 1965

Malone & Hyde Inc., 1700 Dunn, one of the nation’s leading wholesale grocers, has acquired capital stock of the 10-store Pic-Pac Food Stores, Inc. supermarket chain in what is believed to be the largest grocery store deal in Memphis history. J.R. Hyde Jr., president of Malone & Hyde, Inc., which covers 10 states, said the exchange of stock between the firms will become effective tomorrow. Pic-Pac, the largest Memphis-owned supermarket chain in this area, will be operated as an autonomous affiliate. W.T. Dunn will continue as president, his brother M.D. Dunn as vice president, and Leo L. Cole, secretary-treasurer.