Wakefern Food Corp. Chairman Sean McMenamin addressed shareholders, store management and staff during the company’s annual shareholders’ meeting Oct. 17 at the Hilton in Parsippany, New Jersey.
Wakefern reported retail sales of $20.1 billion for the 52-week fiscal year ending Sept. 28, a 2.2 percent increase from the prior year. Cooperative members opened four ShopRite stores and one The Fresh Grocer – the first in New York – during the same period. Wakefern also added the Philadelphia-based Di Bruno Bros. banner to the cooperative with the acquisition of its portfolio of specialty products distributed to wholesale and retail customers.
“There is excitement we can all feel in the air with what’s happening at Wakefern right now, and the possibilities of what we can achieve together,” McMenamin told the audience. “I think that excitement comes from the fact that we have a bold plan for growth, and we are embracing our brand and legacy as the trusted neighborhood grocer.”
In addition to the Wakefern members and retail and corporate teams in attendance, thousands of more employees from across the cooperative tuned into the annual meeting, which was broadcast live. Leadership reported on the 2024 fiscal year and how Wakefern and its family-owned supermarkets marked their 78th year in business with an eye to the future.
“That pioneering spirit that drove this cooperative in the beginning will drive us into the future. We are putting in place an exciting new strategy that will help our family-owned businesses grow and continue to serve their customers and communities,” said Wakefern President Mike Stigers.
McMenamin and Stigers spoke about the company’s continued advancements in technology, e-commerce and its private label Own Brands to enhance the customer shopping experience along with opportunities for Wakefern’s seven supermarket banners: ShopRite, Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage, Fairway Market and the newest addition, Di Bruno Bros.
A supplier of gourmet cheeses and cured meats in the Philadelphia area since 1939, Di Bruno Bros. operates retail stores in the city while distributing specialty and imported oils, sauces, cheese spreads, jams and crostini to wholesale and retail customers nationwide.
[RELATED: Wakefern Food Corp. Acquires Di Bruno Bros.’ Branded Product Portfolio]
“This new venture represents a tremendous opportunity for Wakefern as we look to expand the distribution of these delicious and distinct groceries nationally through a dedicated sales team,” Stigers said.
McMenamin welcomed third-generation grocer and Di Bruno family member Emilio Mignucci during the meeting. Mignucci, a cheese monger who grew up in his family’s business, joined Wakefern as VP of the Di Bruno Bros. brand and will lend his expertise to the Wakefern team that will help position the brand for future growth.
Also at the annual meeting, McMenamin presented the Chairman’s Award to former Wakefern Chairman Joseph Colalillo, president of the ShopRite of Hunterdon County, which operates five ShopRite stores in New Jersey and Pennsylvania. Colalillo served as Wakefern’s chairman for 18 years before McMenamin took over last year.
“Joe served this cooperative with pride, distinction and integrity – always working tirelessly for our team members and all the stakeholders in our cooperative. We thank him for his 18 years of distinguished leadership as chairman. He’s made Wakefern stronger and better through his guidance and friendship,” McMenamin said.
Shareholders elected to the board of directors at the Oct. 17 Wakefern annual meeting include: McMenamin, chairman; Larri Wolfson and Dominick J. Romano, vice chairmen; Nicholas Sumas, treasurer; Lawrence Inserra Jr., and Neil Greenstein, assistant treasurers; Richard Saker, secretary; and Ned Gladstein, Shawn Ravitz and Marshall Klein, assistant secretaries. Stigers also was appointed president.
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