At the recent annual shareholders’ meeting of Wakefern Food Corp., held on October 17 at the Hilton in Parsippany, New Jersey, Chairman Sean McMenamin emphasized the cooperative’s dedication to innovation and its unwavering commitment to serving customers and communities. This strategic focus positions Wakefern, the largest retailer-owned cooperative in the U.S., for continued success amid changing market conditions.
In a detailed report on the fiscal year ending September 28, 2024, Wakefern announced impressive retail sales of $20.1 billion—marking a 2.2% increase over the previous year. This growth follows the co-op’s celebration of 78 years in business, with future aspirations firmly in sight. Notably, the cooperative welcomed new ShopRite locations, opening four stores, along with its first The Fresh Grocer in New York. Additionally, Wakefern has broadened its portfolio by acquiring the Di Bruno Bros. brand, a well-regarded name in gourmet specialty foods based in Philadelphia.
“There is a palpable excitement at Wakefern right now,” declared McMenamin, addressing shareholders, store management, and thousands watching through a live stream. His remarks reflected a collective optimism regarding the cooperative’s plans to strengthen its brand and legacy as a trusted neighborhood grocer.
McMenamin, along with Wakefern President Mike Stigers, pointed out that the cooperative is moving forward with a new and ambitious growth strategy. This includes harnessing advancements in technology and e-commerce, as well as enhancing its own brand offerings. This comprehensive strategy is designed to elevate the shopping experience across all seven Wakefern supermarket banners including ShopRite, Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage, Fairway Market, and the newly acquired Di Bruno Bros.
The Di Bruno acquisition, highlighted by Stigers, opens significant opportunities for Wakefern to distribute unique and high-quality grocery selections across the nation through a specialized sales team. The aim is to position Di Bruno as a recognized brand in gourmet foods, expanding consumer access to its diverse product range.
During the meeting, the cooperative also recognized the exceptional contributions of former Chairman Joseph Colalillo, who led Wakefern for nearly two decades. McMenamin honored Colalillo with the Chairman’s Award, praising his unwavering dedication and pivotal role in guiding the cooperative towards its current strength. “Joe has worked tirelessly for our team members and all stakeholders,” noted McMenamin. The transition in leadership reflects the cooperative’s ongoing commitment to nurturing effective governance practices.
Elections for the board of directors were also conducted during the meeting, resulting in McMenamin retaining his position as chairman. Larri Wolfson and Dominick J. Romano were appointed as vice chairmen, while Nicholas Sumas continued in the role of treasurer. Lawrence Inserra Jr. and Neil Greenstein serve as assistant treasurers, and Richard Saker is the newly elected secretary, supported by assistant secretaries Ned Gladstein, Shawn Ravitz, and Marshall Klein. Stigers reiterated his commitment as president, further solidifying the leadership structure necessary to achieve Wakefern’s ambitious goals.
Wakefern Food Corp., based in Keasbey, New Jersey, continues to thrive as an important player within the North American grocery landscape. The cooperative comprises 45 members, each independently operating over 365 supermarkets under various banners. With a respectable ranking of 31 on Progressive Grocer’s annual PG 100 list of the top food and consumables retailers in North America, Wakefern remains dedicated to growth, customer satisfaction, and community engagement.
In conclusion, the insights shared at Wakefern’s annual meeting demonstrate a forward-thinking mindset, which is crucial for competing in the ever-demanding grocery market. By focusing on technology, expanding product offerings, and maintaining robust leadership, Wakefern is setting the stage for a bright future.
