Welcome to the annual Food Trade News Market Study issue! As most of you are familiar with, this project is a real undertaking which requires months of research and compiling of data. Over the years, many companies have turned to the Annual Market Study to help drive growth, enhance efficiency and plan for success. Hopefully this year’s edition will supply you with an insightful approach to such endeavors. I want to personally thank all of the customers, distributors, vendors and friends for your assistance in assembling this wealth of information. Just as important is the outstanding team here at Best-Met Publishing Company. The collective effort in comprising this issue is monumental and is guided by our VP and editorial director Terri Maloney, VP and general manager Maria Maggio, our office manager and data accumulator Beth Pripstein and our esteemed publisher Jeff Metzger. I’m sure you will agree after going through the following pages that this issue is the culmination of a truly monumental team effort. Enjoy the reading and we hope you find it useful for your business.
Goya Foods has partnered with Vima Foods to bring premium frozen seafood to grocers in the Northeast and Southeast regions. Customers can have a sea of options with Vima Foods’ wide variety of products. Packed with Omega-3s for heart health and rich in essential nutrients, Vima’s products offer exquisite taste and the benefits of a nutritious choice. Contact your Goya representative for more information.
Associated Supermarket Group (ASG) and the Hamdan family unveiled a new Met Fresh in Ridgewood, Queens. It is the fourth venture for Danny Hamdan, and the eighth of the Hamdan family with ASG. The 8,000 square foot store is located at 67-09 Fresh Pond Road and offers a wide array of traditional, natural, organic and gourmet groceries, frozen food, and dairy products, providing an exciting one-stop shopping destination. The store will also offer in-store pick-up and at home delivery service via metfresh.com or other online platforms. The new Ridgewood store will create 30 new employment opportunities, hiring from the surrounding area.
“Met Fresh will be an elevated shopping experience,” said Danny, “it’s what Ridgewood needed, a modern supermarket experience with competitive pricing and convenience directly from the train, as well as for those who drive because we have a parking lot behind the store.”
Joe Garcia, co-CEO and co-president of ASG, remarked, “Opening a Met Fresh in Ridgewood will undoubtedly enhance the vibrancy in a sought-after neighborhood.” Additionally, Zulema Wiscovitch, ASG’s other co-CEO and co-president, expressed enthusiasm, stating, “ASG is proud to see Danny and his family thrive in the supermarket business. Danny is an innovator, a passionate and enthusiastic entrepreneur who is in tune with what consumers need and want. We extend our best wishes to Danny and the entire Hamdan family, to their continued success.”
Kudos to Wakefern Food Corporation as they announced a $1 million donation for student scholarships at Kean University in honor of recently retired president and Kean alumnus Joe Sheridan ’80. Wakefern endowed the “Joe Sheridan Resiliency Scholarship” to help students in the university’s College of Business and Public Management (CBPM) pursue their professional goals and dreams.
Sheridan, an Elizabeth, NJ native who retired as president and chief operating officer in December after nearly five decades with Wakefern, actively supports the Kean University Foundation and many other social and community causes.
“Wakefern’s generous gift honoring Kean alumnus Joe Sheridan creates a lasting legacy at Kean and offers students a financial safety net to continue their studies and follow in the footsteps of Joe and other prominent Kean alumni,” said Kean President Lamont O. Repollet, Ed.D. “We are grateful to Joe for his support throughout his years, and we thank Wakefern for their generosity in his name.” Sheridan said he was grateful for his education at Kean, New Jersey’s urban research university.
Sheridan said, “I have been blessed throughout my career to work in a field – the supermarket industry – that serves our communities every day and am pleased that Wakefern, where I spent so many happy and successful years, is helping students at Kean achieve their dream. I look forward to continuing to support my alma mater and its students.”
The Joe Sheridan Resiliency Scholarship will benefit, in perpetuity, Kean College of Business and Public Management students who maintain a GPA of 3.0 or above and who have demonstrated financial need. Great job, Wakefern!
With baseball season fully under way, I thought it would be nice to acknowledge an event that recently happened at the Yankees’ 44th annual Homecoming Dinner, which took place May 19 at Yankee Stadium. The highly anticipated event welcomes the current team of Pinstripers back home after the Spring training campaign as well as some of the other Yankee alumni. More importantly, the Homecoming Dinner and Auction is the primary source of revenue for the New York Yankees Foundation which provides aid for a number of causes around NYC. Those include community initiatives targeting economic development, health and wellness, education, social responsibility, and overall quality of life. Outreach efforts include grants to community-based organizations, donation of goods and essential supplies in times of crisis and long-term programs to supplement community support networks, all with the goal of creating lasting change and increased enfranchisement for underserved populations. This year’s event raised more than $2 million and included an award and honor bestowed upon Krasdale Foods. During the evening, Krasdale received the Champion of the Foundation Award from the Yankees for all of the collaborative work, efforts and donations Krasdale coordinates with the Yankees throughout the year.
Accepting for Krasdale Foods was Gus Lebiak, president and COO. Gus stated he was honored to accept, citing that the two organizations are two Bronx legends, saying: “Two 100-plus year old organizations as a fabric of the Bronx and New York City, still not only exist, but exist to do good!” Congratulations to everyone at Krasdale Foods on the honor!!
Big news came to the offices of Food Circus Supermarkets as the Jersey Shore Partnership (JSP) announced that Food Circus would be honored during its Summer Celebration 2024 held on June 10 in Sandy Hook. The Summer Celebration serves as the unofficial start of summer and the “networking event of the year” along the Jersey Shore and features live entertainment and culinary delights from more than 40 community restaurants and purveyors. Drawing a crowd of more than 600 corporate leaders, non-profits, environmentalists, academics, and elected officials, the event unites individuals with a common goal – the protection and preservation of New Jersey’s coastline.
“We’re thrilled to recognize dynamic leaders in our Jersey Shore community and share the news of our larger beachside location on Sandy Hook. Together, we’re making waves of positive change and fortifying the resilience of coastal living,” said Grace Hanlon, JSP executive director. The Scaduto and Azzolina families (owners of Food Circus Supermarkets) were bestowed with the 2024 Business & Industry award. Accepting the award at the event were Lou Scaduto III, Nicole Scaduto, Louis Scaduto Jr., Joe Azzolina Jr., Phil Scaduto and Jessica Scaduto.
The JSP is a 501(c)3 non-profit advocate of initiatives that are unique and important to Jersey Shore coastal communities with an emphasis on shore protection and beach replenishment. The partnership takes an active role in New Jersey’s economy, including tourism, vital infrastructure, education, and emergency preparedness. Proceeds from the Summer Celebration will support the Jersey Shore Partnership Foundation to create greater awareness for the need to ensure funding on the local, state and federal levels for beach protection projects.
Applications are now open for the New Jersey Economic Development Authority’s (NJDEA) supermarket tax credit program for financing gap and operating cost shortfall tax credits. The program can fund up to 40 percent of development costs and offset any operating losses for the first three years of operation and include an industry standard profit. These are terrific programs that can go a long way in aiding supermarkets operating in food desert areas. The state has identified 50 food desert communities across the state, so there is a good chance you may be eligible for the program.
For more information, consult the New Jersey Food Desert Tax Program website or contact Brian Todd at btodd@njeda.gov.
Well, that’s a wrap for this month. We hope you find this annual Market Study a valuable tool for your business and planning purposes. I hope you all have an enjoyable summer and I look forward to seeing you out at the many trade industry events. As always you can reach me at kevin@foodtradenews.com or 201.250.2217.
