Wakefern, AWG Among Top-Producing Co-ops
Wakefern Food Corp and Associated Wholesale Grocers Inc. (AWG) have both made National Cooperative Bank’s (NCB) annual “NCB Co-op 100,” a report listing the nation’s top 100 revenue-earning cooperative businesses, which in 2017 posted revenue totaling about $214.4 billion. Wakefern and AWG were fourth and fifth in the ranking, respectively
“The economic impact of cooperatives is critical to our economy,” said Charles E. Snyder, president and CEO of Arlington, Va.-based NCB. “Cooperatives can be seen in just about every industry across America, including local food, finance, housing and energy. Whether it is bringing affordable homeownership through a housing cooperative, fresh local food through a food co-op or electricity through a rural electric co-op, cooperatives strengthen communities.”
Keasbey, N.J.-based Wakefern, many of whose members operate ShopRite stores, reported $12.9 billion in revenue, while Kansas City, Kan.-based AWG posted revenue of $9.7 billion. Wakefern is No. 7 on Progressive Grocer’s 2018 Super 50 list of the top grocers in the United States.
Released every October during National Co-op Month, the “NCB Co-op 100” is the only annual report of its kind to track the profits and successes of cooperative businesses in the United States.