Discount grocery operator Save-A-Lot announced that it has sold the last of its stores to a licensee but will continue to operate as a wholesaler and licensor to the Save-A-Lot store network. Colorado-based Leevers, which already operates 29 Save-A-Lot stores in Colorado, Philadelphia, and New Jersey, purchased the 18 stores, all based in the St. Louis market.
Save-A-Lot had previously announced its plans to exit from retail operations and had been selling off groups of stores to licensees around the country.
“As we’ve made a strategic shift to become a licensed wholesaler, it’s clear that our long-term growth momentum must be rooted in the success of our strong network of retail partners,” said Save-A-Lot CEO Leon Bergmann.
According to Leevers store owner and operator John Leevers, the company prides itself on its employee ownership, and currently more than 300 of its 800 employees (not including the 18-store acquisition) have an ownership stake.
With more than 800 stores in 32 states, Save-A-Lot describes itself as the largest independently owned and operated discount grocery chain in the U.S.
