Wakefern Food Corp., a retailer-owned grocery cooperative, announced Oct. 2 the successful acquisition of Morton Williams, a family-owned neighborhood grocer with 17 stores in Manhattan, the Bronx and Jersey City.
The move will preserve Morton Williams’ community connections while leveraging the resources of the largest retailer-owned supermarket cooperative in the U.S. Wakefern announced the purchase agreement in August. The deal extends Wakefern’s presence in New York. One of its cooperative members operates specialty markets under the Gourmet Garage and Fairway Market banners in Manhattan. Financial terms were not disclosed.
“When a brand is so embedded in the community, it’s essential that we preserve that legacy. Wakefern brings the scale and support to help independent operators compete and grow while retaining their local roots that made them successful,” said Wakefern President Mike Stigers.
“As a cooperative made up of family-owned businesses, we also know how to honor that community spirit while delivering the technology and support needed to help grocers succeed in today’s highly competitive marketplace. That is why we are so excited that Morton Williams, a storied Manhattan grocer, is joining Wakefern’s family of brands.”
Wakefern said it will retain all the team members across 17 stores. Morton Williams employs 1,000 people and operates 15 stores in Manhattan, one in the Bronx and another in Jersey City at 105 River Drive. Leadership from Morton Williams, including members of the Sloan family who established the Morton Williams brand in the 1970s, will also remain.
Like Wakefern, Morton Williams has deep family roots. The family’s food business began in 1952, founded by brothers Joe and Irving Sloan. Joe’s sons, Morton and William, later expanded into supermarkets across New York City. In recent years, Morton Williams was guided by the third generation – Avi Kaner, Morton Sloan’s son-in-law; David Sloan, Morton’s son; and Steven Sloan, the son of William Sloan.
“Morton Williams has always been deeply connected to the neighborhoods we serve, and we’re proud to see that legacy continue under Wakefern’s leadership,” said Avi Kaner, speaking on behalf of the Sloan and Kaner family. “We’re confident that our team members and loyal customers will thrive as part of the Wakefern family. It’s reassuring to know the future of Morton Williams is in such capable and caring hands.”
Kevin McDonnell, currently president of Wakefern’s wholly owned subsidiary PRRC, Inc., which operates stores under the Price Rite Marketplace banner, will serve as the Wakefern executive leading Morton Williams. McDonnell is a 40-year supermarket industry veteran with broad experience in store operations, merchandising, marketing and management as well as extensive experience in operating stores in the New York City area.
The Food Partners, based in Washington, D.C., served as financial and strategic adviser to Wakefern during the transaction.
