Walter visits a Monarch warehouse in Columbus and is shocked to find it's the same warehouse where he worked the night shift in high school. "I know this business," he thinks, "I know how it works from the warehouse floor to the customer. I know I can operate it more efficiently." Walter buys the company and renames it Cardinal Foods, bringing a main-street attitude to serving customers.

Walter expands his business, acquiring attractive competitors, applying the theory of gin rummy -- "Constantly trading up to improve your portfolio of cards. I planned to do the same thing by buying stores, upgrading stores and doing what I could to improve our mix of customers."

Cardinal Foods grows, developing private label brands, superior purchasing strategies, and adjacent services. But the grocery distribution industry is crowded and competitive…