Company Snapshot: Fairway Group Holdings Corp.
2284 12th Ave
New York, NY 10027
Total Current Stores:
NY, NJ, CT
Herbert Ruetsch – CEO
William E. Sanford – CFO, President
Fairway Group Holdings Corp., owner of 11 Fairway Foods upscale supermarkets in New York, New Jersey, and Connecticut, has filed the paperwork with the US Securities and Exchange Commission for an initial public offering. It hopes the IPO will generate funds to fuel future growth of three to four stores a year.
The company, which was founded by the Glickberg family as a neighborhood store in the 1930’s, says in the public filing that “we believe, based on these demographics, we have the opportunity to more than triple the number of stores in our existing marketing region, that the Northeast market (from New England to the District of Columbia) can support up to 90 stores and the U.S. market can support more than 300 additional stores (including stores in the Northeast) operating under our current format.”
According to sales data from the filing, Fairway operates at an astounding $1,400 yearly sales per square foot, a figure that rivals the top operators in the supermarket industry