Last updated on October 4th, 2024
Allegiance Retail Services has shared that four Peck’s Markets have joined the co-op through their parent company, PSK Supermarkets.
The sale of Peck’s Markets to PSK occurred in September, expanding PSK’s reach in New York.
PSK Supermarkets, a member of the Allegiance co-op, operate supermarkets in the New York City area and New York’s Dutchess and Columbia counties under the banners of Foodtown, Freshtown and Pathmark. The addition of the Peck’s stores in Sullivan County, brings PSK’s total markets under ownership and management to 18.
Of note, both Peck’s Markets and PSK Supermarkets are owned through an Employee Stock Ownership Plan, which allows workers to accumulate shares in the company that can be redeemed for cash value upon retirement.
Noah Katz, president and CEO of PSK, explained how the acquisition came about.
“Peck’s CEO Lee Reimer approached us in the winter of 2023 regarding a possible sale of the four stores after a vote by more than 200 associates at Peck’s. They wanted to sell, but only to a company that would continue to provide a good working environment for its people with the possibility of growth.”
Katz shared that Peck’s did not want to sell to a big box chain out of concern that the associates and communities they serve would not be cared for in the same manner. When Reimer presented the opportunity to sell Peck’s to PSK, the vote was unanimous in favor.
“Being able to pass on savings, Peck’s Markets will be able to compete with the major chains in the area,” Katz said. He further stated that PSK welcomed the Peck’s associates into the larger company and will maintain current local vendors and charitable relationships.
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“The growth we are seeing among our members is a testament to the strength of the ARS co-op in terms of purchasing power, merchandising support, marketing and advertising services, IT support – POS and shelf label, and retail execution – category management and resets,” said Joseph Fantozzi, COO and president, Allegiance Retail Services.
“As we grow, our purchasing strength grows through bargaining power, creating savings that can be passed on to the customer – so important in today’s economic climate.”
Once they are fully transitioned, plans for Peck’s Markets include new technologies and remodels.
The New York stores are:
- Peck’s Market of Callicoon;
- Peck’s Market of Livingston Manor;
- Peck’s Market of Jeffersonville; and
- Peck’s Market of Eldred.
About Allegiance Retail Services
Allegiance Retail Services supports independent supermarkets (Foodtown, Freshtown, D’Agostino, Gristedes, Morton Williams, Pathmark, LaBella Marketplace, Brooklyn Harvest, Market Fresh, Big Deal Food Market, Green Way Markets, Marrazzo’s Market and Shop n Bag) for retail success by providing marketing, advertising, technological and merchandising support, as well as a full line of private label products, including Foodtown, Green Way and Rancher’s Legend.
