As the old adage goes, Rome wasn’t built in a day. Save A Lot is continuing its monumental wholesale model transition, and the latest step in that plan included the sale of 51 of its company-operated stores in Tampa, Florida, to Fresh Encounter.
“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,” said Kenneth McGrath, Chief Executive Officer at Save A Lot. “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. 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.”
Save A Lot’s press release explained the sale of the Tampa stores is a component of an ongoing program to transition the discount grocery chain to a wholesale model. To meet those needs, the retailer will be selling over 300 of its locations to new and existing retail partners.
The partners, like Fresh Encounter, will continue to operate these locations under the Save A Lot banner.
“The Fresh Encounter family of companies has a culture that prioritizes being positive, appreciative, and resilient, and we are eager to onboard the new Florida associates. Over the past several months I have toured stores in the greater Tampa market, and I’m impressed with the Save A Lot team,” said Michael Needler, Jr., President and Chief Executive Officer at Fresh Encounter. “I am truly humbled to be joining them in delighting our customers, nourishing the communities, and inspiring pride in the team. Kenneth and Kevin Proctor and the rest of the Save A Lot corporate team are transformative, and we are equally eager to join their efforts in re-establishing the Save A Lot brand for tomorrow’s competitive environment.”
Totaling 82 sold store locations, including the ones sold to Fresh Encounter, the completion of this sale marks the grocer’s seventh sale transaction. As more of these sales near completion, the company expects to complete the relicensing program this year.
Save A Lot will continue to operate 21 locations in St. Louis, Missouri, in which it will launch new innovations in order to help its retail partners reach success in their own individual markets.
As the retail landscape changes to meet current needs, Deli Market News will report on the latest endeavors.