Keasbey, N.J. – Wakefern Food Corp. and its cooperative members announced today that they have entered into an agreement with Minnesota-based SuperValu to purchase eleven Connecticut locations of Shaw’s Supermarkets, a wholly owned subsidiary. The projected closing date for the deal is expected late March/early April subject to certain terms and conditions.
“The acquisition of these stores represents an exceptional growth opportunity for Wakefern and its members,” stated Joseph Colalillo, Chairman of the Board and CEO of Wakefern. Once the acquisition is complete, ten store locations will be operated as ShopRite supermarkets and one store will become a PriceRite.
Currently, there are thirteen ShopRite stores and eight Price Rite stores throughout Connecticut. “The Connecticut market has been very supportive of ShopRite and PriceRite over the years and the addition of these stores allows us to expand our presence in the market,” added Mr. Colalillo.
Ten of the Shaw’s locations will be operated as ShopRite stores. In addition to a broad array of groceries and fresh produce, these ShopRite stores will have some or all of the services that ShopRite customers have come to expect including: a fresh bake shop; fresh meats; fresh seafood; full-service floral department; as well as a broad selection of natural and organic products. The stores may also offer a wide array of prepared foods including salad bars, freshly prepared hot foods, fresh oven-baked pizza, sushi bars, a selection of ethnic specialties for dining in or taking out, or a gourmet coffee bar.
One location will operate as PriceRite and will offer the fine quality and national brands that PriceRite shoppers look for, with a full selection of fresh produce and pre-cut, pre-packaged meat.
“We look forward to increasing our presence in Connecticut. Each one of our members who live and work in the area are excited to bring the high quality, low prices, great service and the sense of family and community spirit that the public has come to expect,” added Colalillo.
The new stores will be closed for renovation and remerchandising and most will begin to reopen throughout the Spring/Summer of 2010. Pharmacy service will not be interrupted during the transition.