Wakefern Food Corporation

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Wakefern Food Corporation
Retailers' cooperative
Founded Newark, New Jersey, U.S. (1946 (1946))
Headquarters Keasbey, New Jersey, U.S.
Key people
Services
  • computer services
  • insurance
  • advertising
  • marketing
  • merchandising
  • procurement
Revenue US$ 15.7 billion (FY 2015)
Members 50
Number of employees
70,000 (2014)
Divisions
Website wakefern.shoprite.com

The Wakefern Food Corporation, founded in 1946 and based in Keasbey, New Jersey, U.S.,[1][2] is the largest Retailers' co-operative group of supermarkets in the United States, and the largest employer in New Jersey (36,000 workers).[3]

History

Meaning of the Wakefern name

The name "Wakefern" is a portmanteau of the founders' names: W for Louis Weiss, A for Sam and Al Aidekman, K for Abe Kesselman, E for Leo Eisenberg, and FERN for Dave Fern, although the company adopted the name ShopRite for its stores in 1951.

Cooperative Overview

Wakefern owns one of the Northeast's largest trucking fleets and is the fourth-largest cooperative in the United States.[4] In fiscal year 2015, its revenue was $15.7 billion. In 2011, Supermarket News gave Wakefern its Retailer Excellence Award and The Griffin Report and Progressive Grocer named Wakefern its Retailer of the Year. In 2012, this company was named one of the Best Places to Work in N.J. by NJBIZ Magazine. As of 2011, Wakefern was ranked 17th by sales among all supermarket operators in the U.S. It operates more than 300 stores.

Wakefern also created and operates or franchises the PriceRite limited-assortment chain (based in Wethersfield, Connecticut) of stores in Connecticut, Massachusetts, New Jersey, New York, Pennsylvania, Maryland, Virginia, New Hampshire, and Rhode Island. (PriceRite is a wholly owned subsidiary of Wakefern.) On August 1, 2013, Wakefern acquired The Fresh Grocer, an 8 store chain based in Drexel Hill, Pennsylvania. 1 of the stores was converted to the ShopRite name, and the other 7 will retain the Fresh Grocer name.[5]

Wakefern supplies all of its members' ShopRite stores as well as the PriceRite (founded in 1995) and The Fresh Grocer chains. In July, 2007, the cooperative announced that for the first time, it was offering its wholesale services to third-party supermarket operators, in the Northeastern United States and other areas of the country. Since then, Wakefern has announced deals to supply the Gristedes and Morton Williams chains of supermarkets in the New York City area, Heinen's Fine Foods chain in Ohio, as well as The Market Place in Bermuda

Wakefern also provides its members' stores with services such as: computer services, insurance, advertising, marketing, merchandising and procurement.[6]

Wakefern currently has a total of seven warehouses in New Jersey and Pennsylvania. Wakefern has recently signed a 3-year lease to a warehouse in Carteret, New Jersey. The purpose of the Carteret facility is a temporary facility of grocery products while their facility in Elizabeth, New Jersey is demolished. Wakefern was planning to build a high-tech facility in Carteret.[7]

See also

References

  1. "Join the ShopRite Family and Build your Career Opportunities." ShopRite. Retrieved on December 22, 2011.
  2. "9. VENDOR A/P STATUS INQUIRY USER GUIDELINES." Wakefern Food Corporation. Retrieved on December 22, 2011. "Wakefern Food Corp. 5000 Riverside Drive Keasbey, NJ 08832"
  3. http://www.nj.com/business/index.ssf/2013/11/the_15_largest_employers_in_ne.html#incart_m-rpt-1
  4. "2010 NCB Co-op 100" (pdf). National Cooperative Bank.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  5. "Fresh Grocer to join Shop Rite's supplier, Wakefern Food Corp".<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  6. "Home page". Wakefern Corporation.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>
  7. Ann Evans Estabrook (May 26, 2011). "Testimony in Support of Urban Enterprise Zones" (PDF). Senate Community and Urban Affairs Committee. pp. 8–9.<templatestyles src="Module:Citation/CS1/styles.css"></templatestyles>

External links