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Hi Nabor grocery chain is now employee-owned
Posted on 4/13/21 at 8:58 am
Posted on 4/13/21 at 8:58 am
Similar setup to Publix in the southeastern US or Woodman's in the upper midwest. I'm actually surprised at how many successful grocery chains are employee owned.
Wonder if the newer leadership will be more interested in expansion into Livingston, Ascension, etc. Hi Nabor has been a Baton Rouge landmark for a very long time, and I think they've been a member store of AG for decades. The Windborne Avenue store is their oldest (opened 1963) and largest; Jones Creek (opened 1992) is likely their busiest. I think their latest store was one of the first retailers to move back into Broadmoor shopping center when it was redeveloped (2014). I haven't been to that one but it looks very nice.
The spelling of their store name annoyed me; but I've always found their Jones Creek store to be convenient and well laid out.
Baton Rouge, and south Louisiana in general, has a wide variety of independently owned and operated grocery stores like Dorignac's, Calandros, Rouses, Hi Nabor, Oak Point, Matherne's, and Alexanders. I hope that continues after Amazon opens a bunch of Amazon Fresh locations all over the place.
I wish they were all a little more aggressive with expansion. Rouses is the only one that seems to be hell bent on competing with Wal Mart, Target, and Amazon.
quote:
Hi Nabor sibling owners sell company to employees in an ESOP
Baton Rouge Business Report
The nine siblings that own the Hi Nabor supermarket chain founded in 1963 by their father, the late Sam Crifasi, have sold the business to their employees through an employee stock ownership plan.
Terms of the deal were not disclosed but some 190 full-time employees will be eligible to participate in the ESOP, which will own 100% of the company.
Hi Nabor has three locations in Baton Rouge and estimated revenues in excess of $40 million.
Employees were notified of the deal at a company gathering Sunday afternoon.
An ESOP is a qualified retirement plan, similar to a 401(k), that can be used as a business succession tool and as an employee ownership vehicle to provide employees with an ownership stake in the company. The ESOP buys, holds and sells company stock through a trust, providing employees with a retirement plan benefit and an additional form of compensation.
Hi Nabor CEO Jim Crifasi says the company’s leadership team has been engaged in succession planning for the past several years and initially thought the idea of an ESOP was “crazy.” But the more they learned about the plans, the more sense it made for the company’s future.
“It keeps our management team together and gives all my brothers and sisters an exit strategy without putting a strain on Hi Nabor,” Crifasi says. “The ones who want to continue working here in their same position will be able to. It’s also a great deal for our employees and will continue the legacy my father set up in 1963.”
ESOPs also have inherent tax advantages, according to Jason Wellman, director of ownership culture at ESOP Partners, the Wisconsin firm that will serve as third-party administrator for the Hi Nabor plan.
Wonder if the newer leadership will be more interested in expansion into Livingston, Ascension, etc. Hi Nabor has been a Baton Rouge landmark for a very long time, and I think they've been a member store of AG for decades. The Windborne Avenue store is their oldest (opened 1963) and largest; Jones Creek (opened 1992) is likely their busiest. I think their latest store was one of the first retailers to move back into Broadmoor shopping center when it was redeveloped (2014). I haven't been to that one but it looks very nice.
The spelling of their store name annoyed me; but I've always found their Jones Creek store to be convenient and well laid out.
Baton Rouge, and south Louisiana in general, has a wide variety of independently owned and operated grocery stores like Dorignac's, Calandros, Rouses, Hi Nabor, Oak Point, Matherne's, and Alexanders. I hope that continues after Amazon opens a bunch of Amazon Fresh locations all over the place.
I wish they were all a little more aggressive with expansion. Rouses is the only one that seems to be hell bent on competing with Wal Mart, Target, and Amazon.
18
Posted on 4/13/21 at 9:02 am to goofball
Not in Ascension
Rouses has the Ascension market along with the local mom and pop places
Rouses has the Ascension market along with the local mom and pop places
Posted on 4/13/21 at 9:02 am to goofball
The Jones Creek store was actually the first grocery store in the Shenandoah area and was open long before 1992. (more than likely around 1980/81 or so. It is a very well run grocery chain and good for them on keeping it that way.
Posted on 4/13/21 at 9:04 am to goofball
Broadmoor Hi Nabor is my primary grocery store.
Posted on 4/13/21 at 9:09 am to chryso
ESOPs are a great way to sell your shares and retire. The long term employees and former owners will be very happy with this move.
This post was edited on 4/13/21 at 9:10 am
Posted on 4/13/21 at 9:09 am to goofball
quote:
Wonder if the newer leadership will be more interested in expansion into Livingston
We got Oak Point, Rouses and Carters... frick a Hi Nabor
This post was edited on 4/13/21 at 9:10 am
Posted on 4/13/21 at 9:12 am to statman34
quote:
It is a very well run grocery chain and good for them on keeping it that way.
It is...but they are hella conservative about expansion. The stores are usually clean, and it's a mid-market offering supplied by AG so their prices are usually reasonable especially with the Surefine/Surefresh branded items.
A lot of old folks that have long since left the area due to white flight drive to the old Winborne Ave store to shop. All of the complaining about a food desert in north Baton Rouge; but that's a well run, well stocked grocery store that stays busy.
I'm glad they were able to get into the Broadmoor shopping area redevelopment. I was semi-involved with some of the redevelopment in that area. The traffic count and neighborhood demographics in Broadmoor generated a lot of interest in national chains. Albertsons and Rouses were looking at that area closely, but so were the Crifasi's (Hi Nabor) and another local chain based in New Orleans. Glad it became a Hi Nabor. They'll likely stay there for a very long time and keep that whole development viable for decades.
I'd like to see Reeve's move into the larger Sports Authority building on Sherwood at I-12 next to Walgreens. They are currently a small neighborhood store on Old Hammond, but they remain busy most of the time.
Posted on 4/13/21 at 9:12 am to terd ferguson
They were supposed to put one near Lockhart. Hi Nabor is cleaner than Carters FACT.
Also oak point is the GOAT.
Also oak point is the GOAT.
Posted on 4/13/21 at 9:15 am to chryso
quote:
Broadmoor Hi Nabor is my primary grocery store.
We go to the Jones Creek one every now and again, but if we are going to spend that much more for groceries, we usually go to Rouses who has a bigger selection. We primarily use the Neighborhood Walmart by us.
Posted on 4/13/21 at 9:19 am to terd ferguson
quote:
We got Oak Point, Rouses and Carters... frick a Hi Nabor
The reality is that Livingston is expanding enough to support more grocery stores, and land is cheap enough for commercial real estate away from I-12 that locals have a real shot at that market. I can't say the same for a lot of other parishes outside of the Baton Rouge or New Orleans metro area.
Before the flood, Hi Nabor was about to get started on a brand new location on Magnolia Beach/Lockhart at LA16 in Livingston Parish. It was going to be a different store brand IIRC. That's a really good location for a grocery store. Whoever can get one going there will do well. I just hope it's a local chain and not Amazon Fresh or Wal Mart.
Matherne's, Oak Point, Carters, Hi Nabor, or Calandros would be awesome there. So would a Rouses, but I suspect Rouses will get bought out by Publix or Kroger at some point in the future.
This post was edited on 4/13/21 at 9:20 am
Posted on 4/13/21 at 9:23 am to madamsquirrel
quote:
Hi Nabor is cleaner than Carters FACT.
Did Carter's ever build this in the Hatchell/Cockerham area behind that fire station?
It was supposed to start construction early last year, but I imagine Covid put a clamp on their plans. I think this was going to replace their smaller store nearby, and was ultimately going to serve as their flagship store for future expansion.
This post was edited on 4/13/21 at 9:26 am
Posted on 4/13/21 at 9:29 am to statman34
quote:
The Jones Creek store was actually the first grocery store in the Shenandoah area and was open long before 1992
I didn't know that. Was it always a Hi Nabor?
That was my primary store for years. Preferred it to Albertsons. And I have a passionate hate for the Wal Mart on O'Neal.
Posted on 4/13/21 at 9:38 am to goofball
I used to work with the wife of one of the brothers. Truly one of the kindhearted, most honorable people I’ve ever had the pleasure of knowing. She spoke glowingly of her husband. Good people.
Posted on 4/13/21 at 9:41 am to chryso
quote:
Broadmoor Hi Nabor is my primary grocery store.
That store looks really nice
I can't imagine what the Winbourne Ave store looks like. I've never been to it for obvious reasons.
This post was edited on 4/13/21 at 9:43 am
Posted on 4/13/21 at 9:43 am to goofball
quote:
Wonder if the newer leadership will be more interested in expansion into Livingston
I haven’t noticed the sign up at the crossroads (16 & Magnolia Bridge Rd) in awhile but they had a sign that one was coming to the lot behind McDonalds / Starbucks
Posted on 4/13/21 at 9:45 am to goofball
Will this change how the company reacts to the next time NBR loots the store after a weather issue?
My guess is that the owner sold to the employees because no one sane would buy that goddamn store after what happened in 2016.
My guess is that the owner sold to the employees because no one sane would buy that goddamn store after what happened in 2016.
Posted on 4/13/21 at 9:46 am to goofball
quote:
quote:
The Jones Creek store was actually the first grocery store in the Shenandoah area and was open long before 1992
I didn't know that. Was it always a Hi Nabor?
That was my primary store for years. Preferred it to Albertsons. And I have a passionate hate for the Wal Mart on O'Neal.
Yeah it was always Hi Nabor. I have lived in Shenandoah since I was 5. We used to shop there as soon as they built it (which had to be around 1980 because when we moved in in 1979 it wasn't there yet)
Albertsons came around 1990/91 because I was in high school then and remember that specifically. But for a good decade Hi Nabor was the only game in town right there.
Posted on 4/13/21 at 9:46 am to The Boat
quote:
I can't imagine what the Winbourne Ave store looks like. I've never been to it for obvious reasons.
The only place my Grandma shopped until the mid 90’s when my Dad & Uncle forbid her to go anymore
Posted on 4/13/21 at 9:47 am to statman34
quote:
Yeah it was always Hi Nabor. I have lived in Shenandoah since I was 5. We used to shop there as soon as they built it (which had to be around 1980 because when we moved in in 1979 it wasn't there yet)
Albertsons came around 1990/91 because I was in high school then and remember that specifically. But for a good decade Hi Nabor was the only game in town right there.
Delchamps 4 lyfe
Posted on 4/13/21 at 9:50 am to goofball
quote:
Hi Nabor has three locations in Baton Rouge and estimated revenues in excess of $40 million.
Wut?!?!
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