Andronico's
| Private/Grocery | |
| Industry | Retail |
| Founded | Berkeley, 1929 |
| Headquarters | San Leandro, California |
Key people |
CEO Gary Barrett COO Anthony Gilmore CFO Cheryl Hughes MOM Bridget Kwok |
| Products | Organic produce, artisan bakery, prepared foods, catering, meat, seafood, liquor, wine, cheese, floral |
| Owner | Renovo Capital |
| Website | andronicos.com |
Andronico's Community Markets, known locally as "Andronico's", is a supermarket chain based primarily in the San Francisco Bay Area. Its first store was founded in 1929 on Berkeley's Solano Avenue by Greek immigrant Frank Andronico.[1]
In late 2011, Andronico's filed for bankruptcy. A new group of investors has assumed management of the chain during the reorganization process.
History
Beginnings
Andronico's first store opened its doors in 1929 at the Solano Ave Berkeley location by patriarch Frank Andronico.
Bankruptcy and reorganization
Andronico's filed for Chapter 11 bankruptcy in August 2011, In October 2011, the company was purchased by a private equity firm called Renwood Opportunities Fund, a partnership between Renovo Capital and Rosewood Private Investments.[2]
New management
Late in 2011 during reorganization, executives and buyers who once worked for Whole Foods Market have joined the management team of Andronico's. Justin Jackson, COO, manages the remaining five stores in the San Francisco Bay Area. He was originally hired as a consultant by Andronico’s after leaving Whole Foods. John Clougher, who was president of Whole Foods’ Pacific Northwest region, was chief executive officer of Andronico’s briefly before taking that title at A.G. Ferrari Foods, a local distributor owned by Renovo Capital, the Dallas-based firm that acquired Andronico’s out of bankruptcy last October. Bill Andronico, the grandson of the company’s founder and its former president and CEO, is chief administration officer.
Under the new ownership, Andronico’s stores have been remerchandised — dropping approximately 7,000 slow-moving SKUs and replacing them with approximately 5,500 new items. Sales at Andronico’s have reportedly improved nearly 10% since 2011. The process of remodeling all five stores over the next two years is also under way.[3]
Locations
Andronico's has five locations, two in Berkeley, Solano and Shattuck Avenue, one in the El Rancho Center Los Altos, Irving Street San Francisco and Marin County's City of San Anselmo.
References
- ↑ "Archived copy". Archived from the original on 2007-06-21. Retrieved 2007-06-29.
- ↑ Yu, Jaehak (2011-10-16). "Company saves Bay Area's AG Ferrari Foods, Andronico's from bankruptcy". Dailycal.org. Retrieved 2013-11-20.
- ↑ Jun. 18, 2012 Elliot Zwiebach (2012-06-18). "Supermarket News". Supermarket News. Retrieved 2013-11-20.