Annual Shareholders’ Meeting Held on October 24, 2013
Wakefern Food Corp.’s chairman and CEO, Joseph S. Colalillo, and president and COO Joe Sheridan, addressed Wakefern’s shareholders, store management and staff at the company’s annual shareholder meeting in East Brunswick, New Jersey on October 24, 2013.
The company reported that the cooperative had reached a record sales level of $14.1 billion in retail sales for the fiscal year ending September 28, 2013, a 3.9 percent increase from the same period last year, and $11.4 billion in Wakefern sales. The cooperative opened 10 new ShopRite stores, four new PriceRite stores and one new The Fresh Grocer store during the same period. In addition, the company expanded its ShopRite from Home services to 172 stores.
At the meeting, the company also welcomed Charles Gallagher, Joseph Cowhey and Patrick Burns as new members of the cooperative. Mr. Gallagher owns and operates the ShopRite of Selden, New York and Mr. Cowhey owns and operates the ShopRite of Warminster in Pennsylvania. Mr. Burns owns and operates one ShopRite store in Drexel Hill, Pennsylvania and seven Fresh Grocer locations in Pennsylvania, New Jersey and Delaware.
“Since its founding 67 years ago, Wakefern has continued to thrive in an ever-evolving and rapidly changing marketplace,” stated Mr. Colalillo. “As our customers’ needs continue to change, it is no longer enough for our stores to have the same logo to deliver a unified shopping experience. We will – and must – unite in a shared purpose and commitment to our communities, our customers and our associates to build upon past successes and achieve the next level of excellence.”
Also at Thursday’s meeting, Wakefern shareholders re-elected to the Board of Directors: Joseph S. Colalillo as chairman and CEO; James Sumas, Larri Wolfson and Irv Glass as vice chairmen; Lawrence Inserra, Jr., treasurer; Richard Saker, Jeffrey Brown and Kenneth Capano as assistant treasurers; Dominick J. Romano as secretary; Ned Gladstein, Joel Perlmutter and Steven Ravitz, assistant secretaries; Rocco Cingari, Robert Clare, Lawrence Collins, Jon Greenfield, Charles Infusino, Bernard Kenny, Vincent Lo Curcio III, Leonard Sitar, Richard Tully and Richard McMenamin.
Joseph Sheridan was also re-elected as president and COO.
About Wakefern Food Corp.
From a small, struggling cooperative with eight members – all owners of their own grocery stores – Wakefern Food Corp. has grown into the largest retailer-owned cooperative in the United States. Founded in 1946, the cooperative is comprised of 50 members who today individually own and operate more than 250 supermarkets under the ShopRite and The Fresh Grocer banners in New Jersey, New York, Connecticut, Pennsylvania, Maryland and Delaware. In 1996, Wakefern introduced PriceRite stores, extending the company’s reach into Rhode Island and Massachusetts. Today, there are 51 PriceRite stores in six states. As the merchandising and distribution arm of ShopRite, PriceRite and The Fresh Grocer, Wakefern, together with its member companies, employs more than 50,000 people; making it one of the largest employers in New Jersey. In addition, Wakefern also distributes products to other supermarkets throughout the northeastern United States and Bermuda. Wakefern was recently named one of the Best Places to Work in NJ by NJBIZ Magazine. In 2011, Supermarket News gave Wakefern its Retail Excellence Award and The Griffin Report named Wakefern its Retailer of the Year. For more information, please visit www.Wakefern.com