National Cooperative Bank (NCB), which provides banking solutions for cooperatives and their members nationwide, has released its annual “NCB Co-op 100” report listing the nation’s top 100 revenue-earning cooperative businesses. In 2021, these businesses posted revenue totaling $255 billion. In the grocery sector, Wakefern Food Corp./Shoprite, reported $11.8 billion in revenue, earning the fourth ranking again this year, while Associated Wholesale Grocers Inc. (AWG) reported revenue of $10.8 billion, coming in at No. 5. The two co-ops achieved the same rankings last year.
Aside from grocery, the report’s main sectors are agriculture, hardware and lumber, finance, health care, and energy and communications. In the agriculture sector, Inver Grove Heights, Minn.-based CHS Inc. reported $38.4 billion in revenues in 2021, maintaining its first-place position on the list, and Kansas City, Mo.-based Dairy Farmers of America was still second, with $19.3 billion in revenues.
“While the companies and rankings change each year, the cooperative sector continues to advance, playing an increasingly influential role in the national and global economy,” noted Arlington, Va.-based NCB. “Released annually in October during National Co-op Month, the ‘NCB Co-op 100’ is just one way the bank strives to educate and promote the importance of this sector.”
The “NCB Co-op 100” is the only annual report of its kind to track the profits and successes of cooperative businesses in the U.S.
Keasbey, N.J.-based Wakefern Food Corp., consisting of close to 50 members that independently own and operate 360-plus supermarkets under the ShopRite, Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage and Fairway Market banners in the northeastern United States, is No. 25 on The PG 100, Progressive Grocer’s 2022 listing of North America’s top food and consumables retailers in North America. Kansas City, Kan.-based AWG, the nation’s largest cooperative food wholesaler to independently owned supermarkets, serving more than 1,100 member companies and 3,100 locations in 28 states from eight full-line wholesale divisions, is No. 35 on PG’s list.