Sponsored By

Stop & Shop invests in minority-owned supplier companies

Retailer contributes $55,000 to minority supplier development council, with a focus on Black-owned businesses

Michael Browne, Executive Editor

January 15, 2021

2 Min Read
Stop_&_Shop-storefront-closeup.png
GNEMSDC has received a $50,000 investment from Stop & Shop Supermarkets, and an additional $5,000 from the Stop & Shop NextGen Associate Resource Group, a team of Millennial and Gen Z Stop & Shop associates dedicated to economic inclusion.Stop & Shop

Stop & Shop is investing a total of $55,000 to the Greater New England Minority Supplier Development Council (GNEMSDC), which will be used to enhance the content and delivery of GNEMSDC's Development Program for minority-owned businesses, with a special focus on Black-owned businesses. 

GNEMSDC has received a $50,000 investment from Stop & Shop Supermarkets, and an additional $5,000 from the Stop & Shop NextGen Associate Resource Group, a team of Millennial and Gen Z Stop & Shop associates dedicated to economic inclusion.

GNEMSDC’s Development Program focuses on companies certified as a minority business enterprise (MBE) by GNEMSDC. Stop & Shop funding will support this program through one-on-one business consulting tailored to the size and sophistication of each minority business enterprise, along with helping to build sustainable businesses with a specific focus on financial management, operational and process improvements, strategic planning, and marketing. 

“Stop & Shop is committed to supporting to the communities where our associates and customers work and live,” said Gordon Reid, president of Stop & Shop, the Quincy, Mass.-based operator of more than 400 supermarkets in the Northeast. “We hope this investment to GNEMSDC serves as a building block for Black-owned businesses, allowing them to grow, develop and flourish.”

Related:Schnuck Markets launches supplier diversity initiative

With this investment from Stop & Shop and the NextGen group, GNEMSDC will expand the scope of its Development Program beyond just the existing 250 certified MBEs in New England. The expansion will include providing support to Black-owned businesses through integration into Stop & Shop's supply chain in its retail stores and home delivery services throughout New England and the Northeast.

“This investment by Stop & Shop and its NextGen Associate Resource Group will allow us to continue to build an even more effective development program to make more of New England's minority businesses stronger,” said Peter Hurst, president and CEO of GNEMSDC. “Minority business development helps reduce the country's racial wealth gap, and our MBE Development Program will continue to contribute to the health and growth of our current and future MBEs. Covid-19's adverse impact on minority-owned businesses requires a laser-like focus on the levers that drive MBEs' success, including access to contracts with buyers in the private sector and the public sector; access to intellectual capital that allows MBEs' owners to be more effective leaders and managers; and access to financial capital that supports their growth, whether one contract at a time or through mergers and acquisitions.” 

About the Author

Michael Browne

Executive Editor, Supermarket News

Michael Browne joined Supermarket News in 2018 after serving in managing and executive editor capacities at leading B2B media brands including Convenience Store NewsLicense Global and Travel Agent. He also previously served as content production manager for print and digital in the Business Intelligence division of Informa, parent company of Supermarket News and Nation’s Restaurant News.

As executive editor, Mike oversees the editorial content of supermarketnews.com as well as the monthly print publication. He also directs all content-based brand-related projects including the annual Top 75 Retailers report, Category Guide, Retailer of the Year, research surveys and special reports, as well as podcast and webinar content. Mike has also presented and moderated at industry events.

In addition to the positions mentioned above, Mike has also worked as a writer and/or editor for special projects at American Legal Media (ALM), managing editor for Tobacco International, special projects editor at American Banker • Bond Buyer, and as production editor for Bank Technology News and other related financial magazines and journals published by Faulkner & Gray.

A graduate of Fordham University, Mike is based in New York City, where he was born and raised.

Contact Mike at [email protected] or follow him on Twitter and LinkedIn.

 

Stay up-to-date on the latest food retail news and trends
Subscribe to free eNewsletters from Supermarket News

You May Also Like