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Associated Grocers of New England reported record sales of $340 million at its June 17 annual meeting. “Sales increased by nearly $25 million, about 7.7 percent, for the fiscal year,” noted president and CEO Michael Bourgoine. In addition, the number of retail stores served by AG New England grew significantly.
Bourgoine added that the New England region is doing better economically than many other parts of the country, and that the food business is more stable than many other industries. Although sales per customer for most stores is trending down, Bourgoine attributes AG New England’s sales success to its moves to better serve increasingly price- and quality-conscious consumers, along with ongoing time- and money-saving improvements in technology.
Over the past 10 years, sales for AG New England have grown by over $132 million from $208 million in 1999. The largest retailer-owned, wholesale grocery distributor in the region, the co-op serves independent supermarkets, community food stores and convenience retailers in Maine, Connecticut, Rhode Island, Massachusetts, New Hampshire, Vermont and the Upstate New York/Albany area. A cooperative, AG New England posted patronage refunds to its member/retailers of $3,044,000, an increase of $354,000 (over 13%). Total returns to members came to $3,738,000.
Associated Grocers of New England operates from their 380,000-square-foot Distribution Center in Pembroke, New Hampshire, and supplies over 600 independent food stores. The cooperative is owned entirely by Independent Retail Grocers.