Wakefern Food Corp. celebrated its 80th anniversary at its annual shareholders’ meeting Oct. 22 in East Brunswick, New Jersey, reporting retail sales of $21.5 billion for the 53-week fiscal year that ended Oct. 3, a 2 percent increase from the prior year.
The meeting brought together nearly 700 people, including Wakefern members, store management and retail and corporate teams, with thousands more joining virtually. During the fiscal year, cooperative members opened seven stores, including five ShopRite locations, one The Fresh Grocer store and one Price Rite Marketplace.
“Eighty years ago, independent grocers came together with a shared vision and founded a cooperative that has grown into one of the most successful food retail organizations in the country,” said Sean McMenamin, chairman of Wakefern. “As we honor that legacy, we are also looking ahead. Our future will be shaped by our willingness to think bigger, embrace change, pursue smart growth and move forward together as one cooperative.”
Year’s recap
Under the meeting’s Bold New Future theme, leadership highlighted member investments of more than $150 million in new stores, renovations and customer-focused improvements over the past year. The cooperative expanded e-commerce, pickup and delivery offerings, enhanced training and development programs and grew its wholesale business, including expanding distribution of its Di Bruno Bros. specialty line to all 50 states.
“We are creating new opportunities for growth for the cooperative while remaining focused on serving customers and strengthening the family-owned, independent businesses at the heart of Wakefern,” said Wakefern President Mike Stigers. “At the same time, our members continue to invest in their stores, communities and people, and that commitment is fueling our momentum.”
Board changes and Chairman’s Award
Wakefern recognized two outgoing board members, Len Sitar, president of ShopRite of Carteret, and Richard Saker, president and CEO of Saker ShopRites, for their combined 60 years of service.
Four new members joined the board: Tim Mannix, VP of Mannix Family Markets; Dara Sblendorio, president of Sunrise ShopRite; Rick Saker, SVP of Saker ShopRites; and Spencer Wolfson, VP of ShopRite of Lincoln Park. McMenamin noted the new members represent the second, third and fourth generations of their family businesses.
The cooperative’s Chairman’s Award went to Larri Wolfson, a third-generation grocer and owner-operator of ShopRite of Lincoln Park, a past board member and former vice chairman honored for his commitment to cooperative values and mentorship of future leaders.
“Larri’s impact on Wakefern extends far beyond the leadership positions he has held,” McMenamin said. “His wisdom and unwavering commitment to our cooperative have helped shape generations of Wakefern leaders.”
Founded in 1946 by eight New Jersey grocers, Wakefern is the largest retailer-owned cooperative in the U.S., with members independently operating hundreds of supermarkets under the ShopRite, Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage, Fairway Market, Di Bruno Bros. and Morton Williams banners in nine Northeastern and Mid-Atlantic states.