Save A Lot is transitioning to a wholesale business model in which the discount grocer plans to sell more than 300 corporate-operated locations to current and new retail partners.
St. Louis-based Save A Lot said Monday that it has sold 51 company-operated stores in the Tampa, Fla., market to independent grocer Fresh Encounter Inc., which will continue to run those locations under the Save A Lot banner.
“We are excited to expand our partnership with Michael Needler and the Fresh Encounter team, who have been fantastic partners, strong operators and excellent ambassadors of the Save A Lot brand,” Kenneth McGrath, CEO of Save A Lot, said in a statement. “Through the relicensing transactions we are executing across our footprint, we believe that we will be even better-positioned to continue to serve the communities in which we operate. We currently have a dedicated group of retail partners that we support, and we look forward to helping other entrepreneurs own, operate and succeed in their own business.”
Source: Supermarket News
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