Trader Joe's Trader Joe's Trader Joe's is an American chain of grocery stores based in Monrovia, California. By 2015, it was a competitor in "fresh format" grocery stores in the United States. As of October 12, 2017, Trader Joe's had 474 stores nationwide in 43 states and in Washington, D.C. The first Trader Joe's store was opened by founder Joe Coulombe in 1967 in Pasadena, California. Starting in 1979, it was owned by German entrepreneur Theo Albrecht, until his death in 2010, when ownership passed to his heirs. Trader Joe's is a subsidiary of German supermarket chain ALDI Nord. The company has
Theo Albrecht success stories. Theodor retired from daily operations in 1993 and remained as chairman of the board. In 1971, Albrecht was kidnapped for 17 days. A ransom of seven million German marks (approximately US$2 million at the time) was paid for his release. He was held at gunpoint by Heinz-Joachim Ollenburg, a lawyer, and his accomplice Paul Kron. The ransom sum was delivered by the Bishop of Essen. His kidnappers were eventually caught by authorities, but only half of the money was recovered. Albrecht later successfully claimed the ransom as a tax deductible business expense in court. During World War II,