Keasbey, NJ – Wakefern Food Corp., the nation’s largest retailer-owned cooperative, is strategically positioned for continued success and expansion by prioritizing innovation alongside a deep-rooted dedication to its customers and communities. This was the key message delivered by Chairman Sean McMenamin at Wakefern Food Corp.’s annual shareholders’ meeting on October 17, held at the Hilton in Parsippany, NJ. McMenamin addressed an audience of shareholders, store management, and staff, outlining the company’s achievements and future direction.
Wakefern Food Corp. reported robust retail sales of $20.1 billion for the fiscal year concluding September 28, 2024. This represents a solid 2.2% increase compared to the previous year, demonstrating the cooperative’s consistent growth trajectory in a competitive market. During this period, Wakefern members expanded their footprint by opening four new state-of-the-art ShopRite® stores and a new The Fresh Grocer® location, marking the banner’s debut in New York. Further enhancing its portfolio, Wakefern Food Corp. welcomed Di Bruno Bros., a Philadelphia-based specialty food brand, into the cooperative. This acquisition includes Di Bruno Bros.’ extensive line of specialty products, which are distributed to both wholesale and retail customers.
“There is a palpable sense of excitement surrounding Wakefern Food Corp. right now, fueled by the immense possibilities we can achieve together,” McMenamin stated to the assembled audience. He emphasized, “This excitement stems from our ambitious growth plan and our commitment to embracing our brand legacy as the trusted neighborhood grocer.”
Beyond the physical attendees comprising Wakefern members, retail teams, and corporate staff, thousands of team members across the cooperative joined the annual meeting via a live broadcast. Leadership provided a comprehensive overview of the 2024 fiscal year, highlighting how Wakefern Food Corp. and its family-owned supermarkets celebrated their 78th year in operation while maintaining a forward-looking perspective.
“The pioneering spirit that has been at the heart of this cooperative since its inception will continue to propel us into the future,” affirmed Wakefern President Mike Stigers. “We are implementing an exciting new strategy designed to foster growth for our family-owned businesses and ensure they continue to effectively serve their customers and communities.”
Both McMenamin and Stigers underscored Wakefern Food Corp.’s ongoing advancements in key areas such as technology, e-commerce, and Own Brands. These initiatives are all geared towards enriching the customer shopping experience and creating new opportunities for Wakefern’s diverse portfolio of supermarket banners. These banners include ShopRite, Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage, Fairway Market, and the recently added Di Bruno Bros., showcasing the breadth and depth of the Wakefern Food Corp. network.
The integration of Di Bruno Bros. into the Wakefern Food Corp. cooperative marks a significant development. Di Bruno Bros., a renowned purveyor of gourmet cheeses and cured meats in the Philadelphia region since 1939, operates retail locations and distributes a wide array of specialty and imported goods nationwide. Their product range includes oils, sauces, cheese spreads, jams, and crostini.
“This new venture presents a significant opportunity for Wakefern Food Corp. to expand the national distribution of these exceptional and distinctive groceries through a dedicated sales team,” explained Stigers.
McMenamin formally welcomed Emilio Mignucci, a third-generation grocer and Di Bruno family member, during the meeting. Mignucci, a celebrated cheese expert with deep roots in his family’s Philadelphia business, has joined Wakefern Food Corp. as VP of the Di Bruno Bros. brand. His extensive culinary expertise will be invaluable to the Wakefern team as they work to strategically position the brand for future expansion and success within Wakefern Food Corp.
During Thursday’s meeting, a highlight was McMenamin’s presentation of the Chairman’s Award to Joseph Colalillo, former Chairman of Wakefern Food Corp.. Colalillo, president of ShopRite of Hunterdon County and operator of five ShopRite stores across New Jersey and Pennsylvania, served as Wakefern’s chairman for an impressive 18 years before McMenamin assumed the role last year.
“Joe led this cooperative with unwavering pride, distinction, and integrity, consistently championing our team members and all stakeholders within the Wakefern Food Corp. cooperative. We extend our sincere gratitude for his 18 years of outstanding leadership as chairman. His guidance and friendship have been instrumental in making Wakefern Food Corp. stronger and more successful,” acknowledged McMenamin.
At the October 17 meeting, Wakefern Food Corp. shareholders reaffirmed the composition of the Board of Directors. Elected members include: Sean McMenamin, Chairman; Larri Wolfson and Dominick J. Romano, Vice Chairmen; Nicholas Sumas, Treasurer; Lawrence Inserra, Jr., and Neil Greenstein, Assistant Treasurers; Richard Saker, Secretary; and Ned Gladstein, Shawn Ravitz, and Marshall Klein, Assistant Secretaries. Mike Stigers was also officially appointed as President of Wakefern Food Corp.
About Wakefern Food Corp.
From its humble beginnings as a small, local cooperative founded by eight grocery store owners, Wakefern Food Corp. has evolved into the largest retailer-owned cooperative in the United States. Established in 1946, Wakefern Food Corp. today encompasses 45 member families who independently own and operate hundreds of supermarkets across nine states. These supermarkets operate under the well-known banners of ShopRite, Price Rite Marketplace, The Fresh Grocer, Dearborn Market, Gourmet Garage, Fairway Market, and Di Bruno Bros. Wakefern’s reach extends across New Jersey, New York, Connecticut, Pennsylvania, Maryland, Delaware, Massachusetts, New Hampshire, and Rhode Island. For further information about Wakefern Food Corp., please visit www.wakefern.com.
