The Roche family, which operates 20 stores in Massachusetts including the only two traditional grocery stores in Needham, is selling a majority stake in the company to their primary wholesale supplier, Bozzuto’s. In town, Roche Bros. and Sudbury Farms are go-to choices for many Needham shoppers and community groups seeking local event sponsors.
Although neither the seller nor the buyer has made many public statements about the sale (calls to corporate headquarters were not returned), the indication is that majority ownership will change but some of the management will not. Two Roche family members, Caitlin and Rick, will continue in their senior roles. Attorneys for both companies offered some information during a Boston Licensing Board hearing — including that Bozzuto’s will have a 51% stake.
“This decision was made thoughtfully and with our team, our customers and our shared values as our guiding priorities,” Roche Bros. co-owners Caitlin, Ed and Rick Roche said in a prepared statement. “After many wonderful years as a family-owned business, this partnership will allow us to reinforce our stability, ensure quality and continue our positive impact in the community.”
Bozzuto’s, which supplies independent grocery store chains in the Northeast, has been growing quickly even in a rapidly changing grocery market dominated by national chains and mergers. According to Food Trade News, “The Cheshire, CT-based wholesaler serviced 1,180 independent stores, many of which fly the IGA banner, and rang up wholesale sales of $2.6 billion in 2023.” The trade journal noted family owned wholesalers have been the cornerstone of food distribution nationwide and only recently have seen consolidation.
Bozzuto’s primary owner, Michael Bozzuto, has been publicly noted for the rapid growth of his family business, his philanthropy, his car collection and, last April, for his application to moor a 164-foot yacht behind a house he owns in North Palm Beach, Fla.
Save as PDF