Freshly on the heels of being acquired by Onex, Save-A-Lot is taking on Lidl veteran Kenneth McGrath as its new CEO. Effective April 21, 2017, McGrath will be taking over for Eric Claus, who mutually agreed with Onex to part ways.
“The opportunity to lead Save-A-Lot at this exciting phase is a real privilege,” McGrath said upon his appointment. “Save-A-Lot has a proud history of delivering exceptional value to its customers throughout the U.S. I am looking forward to working with Save-A-Lot’s dedicated associates and licensees to serve customers in ways that enhance their experience and, in doing so, driving a period of sustained growth for the organization.”
Over his tenure, McGrath has garnered much experience in the discount grocery industry. According to a press release, McGrath spent 13 years with Lidl in executive roles, including CEO of Lidl Ireland from 2009 to 2013, and CEO of Lidl USA from 2013 to 2015. As CEO of Lidl Ireland, McGrath oversaw a period of much growth in both customer numbers and revenue, prodding the company to select McGrath to spearhead the company’s entry into U.S. markets. Later, McGrath left to become CEO of the Caribbean and Central America region at wireless telecommunications firm Digicel, where he had responsibility for 26 markets comprising $2 billion in annual sales.
“We are thrilled that Kenneth has chosen to lead Save-A-Lot as we chart a new course for the company after its separation from SuperValu,” explained Matthew Ross, Chairman of the Save-A-Lot Board of Directors and Managing Director at Onex. “Kenneth is a strong executive that brings to Save-A-Lot tremendous experience in hard discount retailing. He is highly capable of building a world-class organization, investing in the company’s capabilities and systems, and returning Save-A-Lot to industry-leading growth by leveraging its unique market position.”
Ross also commented on the departure of current CEO, Eric Claus, stating, “We want to thank Eric for his contributions to Save-A-Lot over the past year. Eric is an outstanding retailer and led Save-A-Lot through a difficult separation process.”
How will the Lidl vet put his skills to work at Save-A-Lot during this transitional period? Stay tuned to Deli Market News as we continue to focus our eyes on the buy-side.