Associated Food Stores Makes List of Top-Earning Co-ops
National Cooperative Bank announced last month their listing of the nation’s top 100 revenue-earning cooperative businesses for 2022. Salt Lake City, Utah-based Associated Food Stores ranked in the top quarter, coming in at 24. Annually released in October during National Co-op Month, the NCB Co-op 100 serves as a platform for NCB to inform and promote this particular segment of the national and global economy. The NCB Co-op 100 meticulously tracks the profits of cooperative businesses based in the United States across various sectors. In 2022, the top-performing co-ops collectively generated $319 billion in revenue, marking a notable 25% increase compared to 2021. The grocery industry constituted 10% of the total cooperative revenue, amassing an impressive $33.1 billion in the preceding year, as per the report. Kansas City, Kansas-based Associated Wholesale Grocers, Inc. secured the fifth spot on the list with reported revenues of $12.3 billion, while Keasbey, New Jersey-based Wakefern claimed the sixth position, reporting $12.2 billion in revenue.
“Cooperatives employ millions of people, pay taxes and give back to their communities,” said Casey Fannon, NCB’s President and CEO, in a letter accompanying the report. Other notable Co-Ops ranked include Affiliated Foods of Amarillo, Texas (41); URM of Spokane, Washington (48); Frontier Cooperative of Lincoln, Nebraska (58); Associated Grocers, Inc. of Baton Rouge, Louisiana (86); and Associated Grocers of New England in Pembroke, New Hampshire (98).
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