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Politics

Catsimatidis’ Gristedes Joins Allegiance Retail Services, LLC

September 11, 2018

NEW YORK & ISELIN, N.J. (BUSINESS WIRE) – Gristedes Food’s, Inc and Allegiance Retail Services, LLC announced September 5 that the Gristedes supermarket chain with 23 stores in the New York metro market has joined the ARS cooperative. Gristedes owned by Red Apple Group, a New York City-based firm, is the 30 th member of the cooperative and increases the number of stores serviced by Allegiance to 120.

“Strategically aligning the Gristedes business with Allegiance in the New York market positions us to improve our offerings and further increases our ability to be the Neighborhood Grocer for all New Yorkers,” said Greek-American John Catsimatidis, Red Apple Group’s Chairman and CEO.

By joining Allegiance Retail Services, Gristedes will look to enhance its product line and better meet the needs of today’s consumers by offering the Green Way® Natural and Organic line of products, and an enhanced selection of local favorite items to meet each of their specific neighborhoods’ needs.

John T. Derderian, President & Chief Operating Officer, Allegiance Retail Services stated, “Helping businesses serve local customers has been at the heart of our operation since our inception. The addition of Gristedes to the Allegiance Retail Services family of cooperative grocers further supports our intelligent growth strategy.”

About Allegiance

Allegiance Retail Services, LLC supports independent supermarkets (e.g., Foodtown, Freshtown, Frescho, D’Agostino, LaBella Marketplace, Brooklyn Harvest, Market Fresh and Big Deal Food Market) for retail success by providing them with marketing, advertising, technological and merchandising support, as well as a full line of private label items.

About Gristedes and Red Apple Group

Gristedes has been providing New Yorkers quality foods and services since 1888. Gristedes is owned and operated by Red Apple Group. Red Apple Group is a privately held conglomerate that owns and operates assets in the energy, real estate, finance, insurance, and supermarket industries. Red Apple Group was founded by John Catsimatidis who serves as its chairman and CEO.

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