Wakefern celebrates 80 years, reports $21.5 billion in sales and announces new leadership
NEW JERSEY — Wakefern Food Corp., the New Jersey-based cooperative behind ShopRite and several other supermarket chains, celebrated its 80th anniversary while announcing $21.5 billion in annual retail sales, new store openings and changes to its board of directors.
The retailer-owned cooperative marked the milestone during its annual shareholders’ meeting Thursday, Oct. 22, at the Hilton in East Brunswick. Nearly 700 people attended, including Wakefern members, store management and retail and corporate teams, while thousands more participated virtually.
Wakefern reported retail sales of $21.5 billion for its 53-week fiscal year ending Oct. 3, representing a 2% increase over the previous year. During that period, cooperative members opened seven supermarkets, including five ShopRite locations, one The Fresh Grocer store and one Price Rite Marketplace.
Founded in 1946 by eight New Jersey grocers, Wakefern has grown into a cooperative whose member companies operate hundreds of supermarkets throughout the Northeast. Many of those businesses remain family-owned, with roots in the grocery industry spanning multiple generations.
“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 Food Corp. “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.”
The annual meeting, themed “Bold New Future,” highlighted the cooperative’s plans for continued growth, investment and modernization as it enters its ninth decade.
According to Wakefern, its members invested more than $150 million over the past year in new stores, renovations and improvements designed to enhance the shopping experience. The cooperative also expanded its e-commerce capabilities, including grocery pickup and delivery services, while strengthening training and development programs for retail and corporate employees.
Wakefern also reported growth in its wholesale business, including the expansion of its Di Bruno Bros. specialty food product distribution 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.”
The meeting also included recognition of two outgoing members of Wakefern’s board of directors. McMenamin thanked Len Sitar, president of ShopRite of Carteret, and Richard Saker, president and chief executive officer of Saker ShopRites, for their combined 60 years of service to the board.
Four new directors were welcomed: Tim Mannix, vice president of Mannix Family Markets; Dara Sblendorio, president of Sunrise ShopRite; Rick Saker, senior vice president of Saker ShopRites; and Spencer Wolfson, vice president of ShopRite of Lincoln Park.
McMenamin said the incoming directors represent the second, third and fourth generations of their respective family businesses, reflecting the cooperative’s longstanding emphasis on family ownership and leadership development.
Wakefern also presented its Chairman’s Award to Larri Wolfson, a third-generation grocer and owner and operator of ShopRite of Lincoln Park.
Wolfson, a former member of Wakefern’s board of directors and former vice chairman, was recognized for his commitment to the cooperative’s values, mentorship of future leaders and contributions to the organization’s success.
“Larri’s impact on Wakefern extends far beyond the leadership positions he has held,” said McMenamin. “His wisdom and unwavering commitment to our cooperative have helped shape generations of Wakefern leaders and strengthen our organization for the future.”
The anniversary celebration highlighted Wakefern’s evolution from a partnership of eight independent New Jersey grocers into a major supermarket cooperative, with leadership emphasizing continued investment in stores, technology, employees and family-owned businesses as priorities for the years ahead.
