I don’t need tricks or treats this Halloween, just give me some sweet, sweet acquisition! I think that’s where Wakefern Food Corp.’s head it at as well, since it recently reeled in the New Jersey-based Nicholas Markets, owned by the Maniaci Family, making it the 51st family to join Wakefern’s cooperative.
“We are excited to welcome another member into our Wakefern family,” stated Joseph Colalillo, Chairman and CEO. “Nicholas Markets is a strong addition to our cooperative. David and his associates are deeply committed to serving their communities and providing exceptional quality and fresh prepared foods to their customers.”
According to a press release, Nicholas Markets operates four stores in North Haledon, Cedar Grove, Colonia, and the Township of Washington, NJ, under the Foodtown banner. After the deal is finalized, the stores will be rebranded as The Fresh Grocer, a Wakefern trademark. Currently there are nine The Fresh Grocer stores, with eight stores located in the greater Philadelphia area and one in Wilmington, Deleware.
“Adding Nicholas Markets stores to The
Fresh Grocer banner strengthens Wakefern’s competitive position in northern New Jersey,” said Joe Sheridan, Wakefern President and COO. “Membership in our cooperative allows independent operators to maintain their entrepreneurial spirit while benefiting from the scale and services Wakefern offers. We look forward to welcoming the Maniaci family to Wakefern.”
The Maniaci family has been part of the Allegiance Retail Services, LLC cooperative, operating Nicholas Markets as Foodtown. You could say it’s a family affair, as Nicholas Markets was founded in 1943 by Rocco and Nicholas Maniaci, grandfather and father of David Maniaci, who is the current President and CEO.
“The competitive landscape in New Jersey has grown fierce in recent years,” said Maniaci. “I believe Wakefern’s deep roots in the state will help me navigate this and other challenges facing the supermarket industry. I leave the Foodtown cooperative at a time when it is strong and thriving. It has seen significant growth to its membership base and store count over the past decade.”
What’s next on the acquisition front for Wakefern? If you’d like to find out, stay plugged into Deli Market News.
