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Longtime discount grocery store operator Save A Lot, based in Saint Ann., Mo., said this week it had sold the last of its stores to a licensee. It will continue to operate as a wholesaler and licensor to the Save A Lot store network.
Castle Rock, Colo.-based Leevers Supermarkets, a current Save A Lot store operator that also operates stores under the El Mercado de Colorado and Leevers Locavore banners, is acquiring Save A Lot’s last remaining 18 stores in the St. Louis market. Terms of the transaction were not disclosed.
Save A Lot had previously announced its intention to exit from retail operations, and had since 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 Leon Bergmann, CEO of Save A Lot, in a statement.
Leevers, an employee-owned company, has an additional 29 Save A Lot stores in markets including Colorado, Philadelphia, and New Jersey. It joins other Save A Lot store operators in the St. Louis market, where the banner was originally founded in 1977 and had operated a high concentration of stores.
“We are proud to be a part of the Save A Lot network and are thrilled to grow our footprint with the brand,” said Gabe Disbrow, president and CEO, Leevers Supermarkets.
In a profile of Leevers Supermarkets recently posted on Save A Lot’s website, John Leevers, store owner and operator, said the company prides itself on its employee ownership. More than 300 of Leevers Supermarkets’ 800 employees (before the recent 18-store acquisition in St. Louis) have earned an ownership stake in the company, he said.
“We found that by being 100% employee-owned, it creates a sense of pride among our people,” John Leevers said in the profile.
Save A Lot last year said it had completed its store sell-off and was retaining the 18 stores in the St. Louis area for testing and development, but apparently it chose to sell those locations as well. A spokesperson for Save A Lot was not immediately available for comment.
In a statement, Save A Lot said the sale represents the company’s “final chapter” in its wholesale transformation, which began in late 2020. It also said it would continue to partner with its retail store operators to test new innovations and programs.
Earlier this year, Save A Lot unveiled plans to close two distribution centers — one in Coxsackie, N.Y., and another in St. Johns, Mich. — as part of its transition.
With more than 800 stores in 32 states, Save A Lot describes itself as the largest independently owned and operated discount grocery store chain in the U.S.
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