Annual Shareholders’ Meeting Held on October 30, 2014
Keasbey, NJ (October 30, 2014)
– 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 30, 2014.
The company reported that the cooperative had reached a record sales level of $14.7 billion in retail sales for the fiscal year ending September 27, 2014, a four percent increase from the same period last year, and $11.9 billion in Wakefern sales. The cooperative opened six new ShopRite® stores, five new Price Rite® stores and six The Fresh Grocer® stores during the same period. In addition, the company expanded its ShopRite from Home services to include 214 stores.
At the meeting, it was announced that four members have retired from the company’s Board of Directors: Rocco Cingari of Grade A Market, Inc.; Bernard Kenny of Delaware Supermarkets, Inc.; Joel Perlmutter of Perlmart, Inc.; and James Sumas of Village Super Market, Inc.
In addition, it was announced that four new members would be welcomed to the Board of Directors effective immediately: Jordan Coe of Waverly Markets, LLC; Harry Garafalo of Milford Markets, LLC; Nicholas Sumas of Village Super Market, Inc.; and David Zallie of Somerset Stores, LLC.
“The strength of our cooperative lies in the strength of our family businesses and their enduring commitment to their customers, which is handed down from generation to generation,” said Mr. Colalillo. “The decades of service, wisdom and expertise that Rocky, Bernie, Jim and Joel have brought to Wakefern will continue to guide us as we move forward as a company. They will remain active in their own companies and at the Wakefern committees on which they serve. We welcome our new members and look forward to their new perspective on our businesses and their contributions to future successes.”
“Year after year, Wakefern continues to grow and adapt to meet the needs of an ever-changing industry and an increasingly demanding customer,” said Mr. Sheridan. “After more than 65 years in this business, we rely on the lessons from past successes while always looking to the future for new and better ways to help our members succeed.”
Also at Thursday’s meeting, Wakefern shareholders re-elected to the Board of Directors: Joseph S. Colalillo as chairman and CEO; 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 and Steven Ravitz, assistant secretaries; as well as Robert Clare, Lawrence Collins, Jon Greenfield, Charles Infusino, Vincent Lo Curcio III, Leonard Sitar, Richard Tully and Richard McMenamin.
Joe 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 49 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 Price Rite stores, extending the company’s reach into Rhode Island, Massachusetts and Virginia. In 2014, Wakefern extended rights to the Price Rite banner to cooperative members. Today, there are more than 50 Price Rite stores in eight states. As the merchandising and distribution arm of ShopRite, Price Rite and The Fresh Grocer, Wakefern, together with its member companies, employs more than 70,000 people, making it one of the largest employers in New Jersey. Wakefern also distributes products to other supermarkets throughout the northeastern United States and Bermuda. Wakefern was named one of the Best Places to Work in NJ by NJBIZ Magazine in 2011 and again in 2012. In 2011, Supermarket News gave Wakefern its Retail Excellence Award and The Griffin Report named Wakefern Retailer of the Year. Supermarket News also recently awarded Wakefern the 2013 Technology Excellence Award. For more information, please visit www.Wakefern.com