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ST. LOUIS — Save A Lot has completed its transformation to a pure-play wholesale model with the sale of nearly 300 corporate-operated locations to independent retail operators, who will continue to operate the stores under the Save A Lot brand.
“Becoming a wholesaler was an important step in Save A Lot’s mission to lead as the brand of choice for value-oriented consumers, putting the company on an entirely new financial trajectory,” said Mark Hutchens, executive vice president and chief financial officer. “Since its inception, Save A Lot has filled an important need as an affordable, high-quality hometown grocer in each community it serves. This re-licensing program positions our company to better serve our Retail Partners as they support their customers and communities. We’ve entered 2022 with strong momentum and improved financials that will help fuel the growth of the business in the years ahead.”
The completion of the transition follows the company’s recent appointment of Leon Bergmann as its new chief executive officer.
“Bergmann brings significant wholesale and grocery experience that is ideally suited to lead this model,” Save A Lot chairman Justin Shaw said. “The board and management team are excited for this next chapter of growth for the Save A Lot business and to support the entrepreneurial ambitions of all our dedicated retail partners.”
Save A Lot operates approximately 900 stores in 32 states.
