Shaping Save A Lot: How CEO Kenneth McGrath is Turning the Discount Grocer Around

Lea Konczal, St. Louis Business Journal Retail & FoodService January 13, 2021

ST. LOUIS — The time was late 2016. The place: St. Louis. The problem: Save A Lot.

Saddled with debt, the national discount grocer was losing market share to big-box retailers like Walmart, regional players like Schnucks and Dierbergs and fellow small-format value stores like Aldi. Earlier that year, its Minnesota-based parent company, SuperValu Inc., had tried to spin off Save A Lot as a separate company. When that failed, SuperValu offloaded it for $1.4 billion to Onex Corp., a Canadian private equity firm, which promptly began searching for a new CEO who could turn things around.

They found that person in Kenneth McGrath.

To read the rest of the story, please go to: St. Louis Business Journal

Related Articles

Retail & FoodService

Yellow Banana Closes $26.5 Million Transformative Investment in Six Grocery Stores on Chicago’s South and West Sides

Yellow Banana Retail & FoodService April 24, 2023

Yellow Banana, the owner and operator of eight Save A Lot locations in the Chicagoland area, today announced the March 31, 2023 closing of a $26.5 million investment into grocery stores on the South and West Sides of Chicago. This transaction marks the next step in Yellow Banana’s ongoing commitment to underserved communities throughout the City of Chicago and the U.S. …

Retail & FoodService

Nineteen Save A Lot Stores in Philadelphia Metro Area & Beyond Reveal Full Remodels, Creating A One-of-a-Kind Shopping Experience for Customers

Save A Lot Retail & FoodService March 7, 2022

Save A Lot, one of the largest discount grocery chains in the U.S., today announced the completion of full store renovations of 19 Save A Lot locations across the Philadelphia metro area, as well as locations in New Jersey and Delaware. Local store operator Save Philly Stores will give customers access to an upgraded look and feel while enjoying in-store grand re-opening promotions on freshly cut meat, produce and much more from March 6 – 19. …