Wakefern Details Gains at Annual Meeting
At Wakefern Food Corp.’s annual shareholders’ meeting, held Oct. 17 at the Hilton in Parsippany, N.J., Chairman Sean McMenamin noted that innovation and a steadfast commitment to customers and community have positioned the country’s largest retailer-owned cooperative for future success and growth.
At the meeting, Wakefern leadership reported on the 2024 fiscal year and how the cooperative and its family-owned supermarkets marked 78 years in business by laying the groundwork for an even more successful future. Wakefern logged retail sales of $20.1 billion for the 52-week fiscal year ending Sept. 28, a 2.2% rise from the prior year. Further, co-op members opened four ShopRite stores and one The Fresh Grocer – the first store under that banner in New York – during the same period. Wakefern also acquired Philadelphia-based Di Bruno Bros.’ 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 of shareholders, store management and staff, including thousands of teammates watching the live broadcast of the meeting. “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.”
“That pioneering spirit that drove this cooperative in the beginning will drive us into the future,” observed Wakefern President Mike Stigers. “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.”
McMenamin and Stigers went on discuss the company’s ongoing advancements in technology, e-commerce and own brands to elevate 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 newly acquired Di Bruno Bros.
Of the Di Bruno acquisition, Stigers said: “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.”
McMenamin welcomed third-generation grocer and Di Bruno family member Emilio Mignucci during the meeting. Mignucci has joined the Wakefern team as a VP to help position the Di Bruno brand for future growth.
Also at the meeting, McMenamin presented the Chairman’s Award to former Wakefern Chairman Joseph Colalillo. President of the ShopRite of Hunterdon County, which has five ShopRite stores in New Jersey and Pennsylvania, Colalillo was the co-op’s chairman for nearly two decades before being succeeded by McMenamin 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,” noted McMenamin. “We thank him for his 18 years of distinguished leadership as chairman. He’s made Wakefern stronger and better through his guidance and friendship.”
Wakefern shareholders elected to the board of directors at the meeting were McMenamin as chairman, Larri Wolfson and Dominick J. Romano as vice chairmen, Nicholas Sumas as treasurer, Lawrence Inserra Jr. and Neil Greenstein as assistant treasurers, Richard Saker as secretary, and Ned Gladstein, Shawn Ravitz and Marshall Klein as assistant secretaries. Stigers was also named president.
Keasbey, N.J.-based Wakefern Food Corp. is the nation’s largest retailer-owned cooperative. The company comprises 45 members that independently own and operate 365-plus supermarkets under the ShopRite, Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage, Fairway Market and Di Bruno Bros.banners. Wakefern is No. 31 on The PG 100, Progressive Grocer’s 2024 list of the top food and consumables retailers in North America.
