Good Food Holdings (New Seasons, Met Mkt, Brisol Farms): New Management

[storewanderer]

https://www.grocerydive.com/news/good-f ... rn/586101/

They say they are eyeing a national footprint. It will be interesting to see what format/banners they use going forward. Because the way this picture is being painted, you have a company that pulled Bristol Farms out of NorCal (granted it was only one store in that mall basement in San Francisco, not the best representation of the chain) and it seems like though New Seasons still has a small operation in NorCal they are not in an expansion mode. Kind of tough to connect all these chains together geographically without NorCal. Plus, NorCal, specifically the San Francisco Bay Area, seems like a market where these types of formats should do very well.

I am a little curious of the picture this article paints of New Seasons, noting it "struggled" in NorCal and Seattle. How many stores did they attempt to operate in each and how long were the stores even open? It seems like New Seasons was not really given ample time in Seattle to even have a serious chance. New Seasons is still open in NorCal at one store in San Jose plus the New Leafs... New Seasons did close one new store in NorCal very quickly (I had heard the store had traffic...) and cancelled a few others that they were planning though.

New Seasons in San Jose and the New Leafs have good reviews online... New Leaf is a B Corp- I am not clear how that may impact these "roll up" plans they have. Maybe that has something to do with why there is still one store with the New Seasons brand in San Jose.

I wonder if they will engage in additional acquisitions.

New Seasons had a fantastic rise over the years around Portland. Interesting how this has ended up. Typical over-expansion story perhaps.

[babs]

New Seasons got cocky and lost focus of what made them successful. The Sunnyvale store they opened was a massive money loser. The Seattle stores failed as well. The unions targeted them. They had little competition in Portland and had grass roots support. When they entered Seattle, they just assumed everyone knew who they are and didn't do all the little things that made them successful in Portland. A combination of an private equity group that was forcing growth on them and a clueless management team that had never built anything from the ground up.