Transaction furthers discount grocer’s transition to wholesale model
As part of a shift to a wholesale business model, discount grocer Save A Lot has sold five Washington, D.C.-area stores to an independent retailer.
St. Louis-based Save A Lot said Friday that the corporate-owned stores, all in Maryland, are being purchased by AQS Foods LLC, an operator of gas stations and convenience stores. The locations sold, now operating under AQS and owner Qasim Warraich of Port Deposit, Md., are in Temple Hills (2346 Iverson St.), Forestville (7782 Marlboro Pike), Bladensburg (5416 Annapolis Rd.), Oxon Hill (6309 Livingston Rd.) and Seat Pleasant (5933 Martin Luther King Hwy.), Md.
Discount grocer to sell off most corporate-run stores to independent operators
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 tha
Save A Lot Sells Stores to Fresh Encounter
Discount grocery chain Save A Lot is selling 51 company-operated stores in the Tampa, Florida market to Fresh Encounter, a current Save A Lot retail partner licensee. The stores will continue to operate under the Save A Lot banner.
“Through the re-licensing 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,” said Kenneth McGrath, chief executive officer at Save A Lot, in a statement. “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.”
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