Thrifty Foods also operates "Thrifty Kitchens," a commissary production centre that supplies fresh foods, ready-made home replacement meals and packaged products for distribution through in-store deli departments. Thrifty Kitchens recently achieved a 98 per cent "near perfect" score in compliance with international HACCP food safety standards.
Thrifty Foods currently packages over seven hundred product lines sold under the THRIFTY brand label and as "Alex Campbell Signature Series" premium-quality food products.
As Alex Campbell watched Thrifty Foods grow, he understood the need to re-align basic business processes to facilitate continued growth and success. Following close consultation with a number of advisors, he decided to implement a new management structure that would move the organization forward. This resulted in the appointment of Milford Sorensen - a veteran grocery retailer who has worked with Dominion Stores, Atlantic Wholesalers Ltd., and who was most recently CEO for Calgary Co-op - as Thrifty Foods' President and CEO, in early 2004. Mr. Sorensen articulates his mandate as "growing the business to improve shareholder value while nurturing and continuing the unique Thrifty culture that has shaped this company's success."
Since Mr. Sorensen's appointment, the company has grown to a point where both men realized that in order to remain the market leader in an increasingly competitive environment, and to achieve its plans for growth, Thrifty Foods needed a significant amount of capital that was only available through a sale of the company.
In 2007, Mr. Campbell made the best decision for the continued success of Thrifty Foods and announced the sale of his company to Sobeys Inc., a leading national grocery retailer wholly-owned by Empire Company Limited of Stellarton, N.S.
While Mr. Campbell has stepped down from his role as chairman, he will continue to be involved in an advisory capacity.
Sobeys owns or franchises more than 1,300 grocery stores in all ten provinces under retail banners that include Sobeys, IGA, Foodland and Price Chopper. – less – More from ZoomInfo »