ShopRite to Exit Albany

[TW-Upstate NY]

Although, when the first one opened in Niskayuna, people were coming from all over the area (even out towards Amsterdam, beyond the main Albany/Schenectady area) to shop there. Either those who remembered the old stores, or people who had moved from other areas, perhaps.

Yes they did come from the greater Amsterdam area and I was one of them. And it didn't matter what time of day or day of the week it was, it was a struggle to find parking at the Niskayuna store. I even spotted one of their shop from home vans even closer to home which is the Broadalbin/Mayfield area. So yes they did seem to be building somewhat of a following in the outward areas. I'll miss them-never thought my Price Plus card would be forced into retirement. Only solace is that it's good at all Shop-Rites and maybe someday I'll visit one again in my travels.

[marketreportblog]

Yikes. Ellenville, in the Hudson Valley to the south of Albany, is closing by next year too: https://wrrv.com/ellenville-shoprite-to-close

[storewanderer]

Yikes. Ellenville, in the Hudson Valley to the south of Albany, is closing by next year too: https://wrrv.com/ellenville-shoprite-to-close

Looks like they are losing their lease and they may have until October 2024?

So I don't think they wanted this closure...

[BillyGr]

Yes, they did come from the greater Amsterdam area, and I was one of them. And it didn't matter what time of day or day of the week it was, it was a struggle to find parking at the Niskayuna store. I even spotted one of their shop from home vans even closer to home which is the Broadalbin/Mayfield area. So yes, they did seem to be building somewhat of a following in the outward areas. I'll miss them-never thought my Price Plus card would be forced into retirement. Only solace is that it's good at all Shop-Rites and maybe someday I'll visit one again in my travels.

They were quite extensive on the deliveries - I remember seeing addresses listed out to Stephentown (which is Rensselaer County but almost on the MA state line), and that was before they opened North Greenbush, so deliveries had to come from either Albany or Hudson (both of which are a decent trip with mostly smaller routes, no "express" highway option).

By the way, that store in Hudson is still open and not too much further if you want to visit one (along with one in Kingston on your side of the Hudson River)

[marketreportblog]

I read way too many comments on Reddit to find that people seem to think C&S (under the Grand Union name) or Weis have purchased the stores -- and maybe one went to Price Chopper, they say. I think C&S is a likely candidate, Weis is possible I suppose but I think fairly unlikely (why would they want just five stores 120 miles from their next closest NY stores in Binghamton?). Of note is that Weis previously owned Albany Public Markets in the Capital Region, and they like weird acquisitions from time to time, but they're also pretty conservative and I just don't see how or why they'd want an acquisition of that small, that far from their store base. C&S, meanwhile, has the scattered Grand Union stores in upstate NY, meaning an acquisition here would be logical. Thoughts?

[TW-Upstate NY]

I read way too many comments on Reddit to find that people seem to think C&S (under the Grand Union name) or Weis have purchased the stores -- and maybe one went to Price Chopper, they say. I think C&S is a likely candidate, Weis is possible I suppose but I think fairly unlikely (why would they want just five stores 120 miles from their next closest NY stores in Binghamton?). Of note is that Weis previously owned Albany Public Markets in the Capital Region, and they like weird acquisitions from time to time, but they're also pretty conservative and I just don't see how or why they'd want an acquisition of that small, that far from their store base. C&S, meanwhile, has the scattered Grand Union stores in upstate NY, meaning an acquisition here would be logical. Thoughts?

I wouldn't discount any of those theories because shortly after this was announced I too read some of those threads on Reddit about this and one of the employees in the stores was saying they heard from a Coca-Cola person that whomever bought the stores was someone who had been here before. Weis and C+S (in the form of Grand Union) would certainly fit that criteria. I would tend to lean towards C+S not only for reasons you stated but because remember the Shop-Rites are Union stores and C+S has shown a willingness to purchase Union stores in the past. Wouldn't at all be surprised if it is them. And how's this for irony if it is indeed C+S-the Niskayuna store was originally a Grand Union which replaced an older unit they had on Balltown Road. I'll throw this one out here too-when C+S bought those Tops stores as a result of the PC/Tops merger, they rebannered one of them a Piggly Wiggly in Watertown.

[BillyGr]

I read way too many comments on Reddit to find that people seem to think C&S (under the Grand Union name) or Weis have purchased the stores -- and maybe one went to Price Chopper, they say. I think C&S is a likely candidate, Weis is possible I suppose but I think fairly unlikely (why would they want just five stores 120 miles from their next closest NY stores in Binghamton?). Of note is that Weis previously owned Albany Public Markets in the Capital Region, and they like weird acquisitions from time to time, but they're also pretty conservative and I just don't see how or why they'd want an acquisition of that small, that far from their store base. C&S, meanwhile, has the scattered Grand Union stores in upstate NY, meaning an acquisition here would be logical. Thoughts?

I wouldn't discount any of those theories because shortly after this was announced I too read some of those threads on Reddit about this and one of the employees in the stores was saying they heard from a Coca-Cola person that whomever bought the stores was someone who had been here before. Weis and C+S (in the form of Grand Union) would certainly fit that criteria. I would tend to lean towards C+S not only for reasons you stated but because remember the Shop-Rites are Union stores and C+S has shown a willingness to purchase Union stores in the past. Wouldn't at all be surprised if it is them. And how's this for irony if it is indeed C+S-the Niskayuna store was originally a Grand Union which replaced an older unit they had on Balltown Road. I'll throw this one out here too-when C+S bought those Tops stores as a result of the PC/Tops merger, they rebannered one of them a Piggly Wiggly in Watertown.

At this point, I think it would be easier to list brands that haven't been suggested than ones that have

Maybe that is just being local and reading far too many sites (from the various TV stations, newspapers and other local forums to even the pages for the stores themselves).

That Niskayuna one was an oddity - when Grand Union went bankrupt, C&S never ran it. It was sold to a local person (with all the fixtures included) who ran it as an independent for a reasonably short time, then it was vacant until ShopRite came into the picture. So, I guess they owned it (as they got everything left in the chain, and it was open until the bankruptcy), but didn't actually run the spot.

Hadn't heard that it was someone who was here before that was rumored to be the buyer.

[marketreportblog]

Evidence that Weis is interested in buying these stores exists, or at least that's what people on Reddit say .

The evidence, they say, includes a statement by the CEO citing five stores "in active planning stages" last May and the fact that Weis took out a large loan a few weeks before the ShopRite closure announcement.

Weis could make sense, especially since they were previously around here with the Albany Public Markets, and that they're non-union so they would not want the union to be involved. But do they really want five stores 100 miles from their next closest?

As for Ellenville...

So I don't think they wanted this closure...

It's interesting -- that's what it looked like at first, but then a spokesperson said the sales aren't sufficient...
https://midhudsonnews.com/2023/11/01/sh ... ose-video/

Is it at all possible Weis (or whoever is buying the Capital Region stores) also would want Ellenville? I'm not convinced of that. I think Ellenville is more likely to remain vacant, or to go to a non-grocery tenant -- or possibly something like a kosher supermarket.

[BillyGr]

Evidence that Weis is interested in buying these stores exists, or at least that's what people on Reddit say .

The evidence, they say, includes a statement by the CEO citing five stores "in active planning stages" last May and the fact that Weis took out a large loan a few weeks before the ShopRite closure announcement.

Weis could make sense, especially since they were previously around here with the Albany Public Markets, and that they're non-union so they would not want the union to be involved. But do they really want five stores 100 miles from their next closest?

As for Ellenville...

So I don't think they wanted this closure...

It's interesting -- that's what it looked like at first, but then a spokesperson said the sales aren't sufficient...
https://midhudsonnews.com/2023/11/01/sh ... ose-video/

Is it at all possible Weis (or whoever is buying the Capital Region stores) also would want Ellenville? I'm not convinced of that. I think Ellenville is more likely to remain vacant, or to go to a non-grocery tenant -- or possibly something like a kosher supermarket.

Very good question.

One other thing that has bounced around is that Wakefern itself (or at least the subsidiary that owns the stores, not so much the distribution side) is having problems in general.
Seeing as how that subsidiary owns most anything ShopRite in New York State (outside the city and surroundings like Westchester and LI), meaning a territory that spans from these now closed stores around Albany down basically to the PA line (even into PA, since they moved a former store from Montague, NJ to the Matamoras, PA area), could it be that Weis is interested in these few stores, with an eye to buying out more over time if Wakefern wants to continue selling?

Thus, while the 5 stores seem isolated now, they could be looking farther out to making a "chain" that connects back to the home area (and not far from the Binghamton cluster), including areas they were also in (Kingston and Newburgh area, think someone mentioned Middletown as well, using their own name, back when they had the Albany Public stores and for a time afterwards), basically following I-87 and I-84 for reasonably easy distribution...

[marketreportblog]

Very good question.

One other thing that has bounced around is that Wakefern itself (or at least the subsidiary that owns the stores, not so much the distribution side) is having problems in general.
Seeing as how that subsidiary owns most anything ShopRite in New York State (outside the city and surroundings like Westchester and LI), meaning a territory that spans from these now closed stores around Albany down basically to the PA line (even into PA, since they moved a former store from Montague, NJ to the Matamoras, PA area), could it be that Weis is interested in these few stores, with an eye to buying out more over time if Wakefern wants to continue selling?

Thus, while the 5 stores seem isolated now, they could be looking farther out to making a "chain" that connects back to the home area (and not far from the Binghamton cluster), including areas they were also in (Kingston and Newburgh area, think someone mentioned Middletown as well, using their own name, back when they had the Albany Public stores and for a time afterwards), basically following I-87 and I-84 for reasonably easy distribution...

Lots of good points here, Billy, so thanks for your response.

You're right that rumors exist of Wakefern struggling. People on Facebook seem to think more SRS closures are impending, and some posts seem to suggest the Greenway Plaza store in Yonkers has already been slated for closure. Meanwhile, on Reddit, a poster or two has detailed the frustrations some of the members have with the cooperative, even going so far as to say it's like Supermarkets General all over again -- suggesting that some of the larger members (Village, Saker, Inserra) have considered splitting. I take all of this with a grain of salt, naturally, but I will say it's in line with my own observations and suspicions. I'm happy to elaborate on what I've seen if you or anyone here is interested. But even though I doubt Wakefern's (re-)fracturing is impending, I think there are more cracks showing than there have been in a long time.

Now onto Weis strategy. If the buyer is in fact Weis, I think your assessment is spot on. I would not at all be surprised if they were interested in acquiring many of those former Big V and current SRS stores, and possibly others, to expand their presence into the Hudson Valley and Capital Region. They strike me as a fairly conservative operator -- they don't seem to take a lot of risks, they seem to figure out what they're good at and really nail it -- but they also strike me as an operator with some serious strategy, perhaps more so than someone like Stop & Shop which seems to be coasting.

The only question I would have is, if Weis truly were interested in acquiring a larger chunk of stores from Wakefern, would that not be likely to happen at once? I could be very wrong, but I would expect to see Weis and Wakefern quietly work out a deal where they buy 15 stores all in one lot, rather than here and there. Maybe Wakefern isn't ready to sell anything else yet. But I think you could really be onto something there.