MarketPlace & Supermart Announce Merger
The MarketPlace and Supermart announced a “historic merger that unites two of Bermuda’s most trusted grocery retailers, creating an enhanced shopping experience for customers while strengthening the island’s food security and maintaining all current jobs at The Supermart.”
A spokesperson said, “Since 1956, The Supermart has been committed to serving Bermuda with excellence, and this partnership ensures that legacy will continue and grow even stronger,” said Tredick Gorham, President of The Supermart.
“The Gorham family has built an extraordinary legacy of service to Bermuda over generations,” said David Ferreira. “Their commitment to quality, customer service, and the community has been exemplary, and we are honored and humbled to be entrusted with continuing this tradition of excellence.”
Seth Stutzman, President of The MarketPlace group of companies, emphasized that both stores will maintain their distinct identities: “Customers will continue to enjoy the same great products and service they love at The Supermart, including the valued Waitrose partnership, with the added benefit of more competitive pricing through our enhanced buying power.”
“What began with my grandparents over 60 years ago as a single store in Paget has grown into something remarkable,” said Ferreira, whose family has owned The MarketPlace for three generations. “This expansion represents more than just a merger — it demonstrates our long-term commitment to Bermuda. In the coming years, we will be investing significantly in our facilities across the island, creating enhanced shopping experiences for all Bermudians.”
A spokesperson added, “The merger will create approximately 40 new positions across various operations over the next three to six months. Both stores will continue to operate independently, with The Supermart maintaining its unique identity and offerings that Bermudians have come to trust over generations.”
Key Benefits:
- All current staff positions will be maintained
- Expanded product selection and enhanced Waitrose offerings
- More competitive pricing through enhanced buying power
- Increased frequency of fresh product deliveries
- Continued position as the island’s largest supporter of local farmers and Bermuda-made products
- Significant investment in facilities across the island
- Ongoing reinvestment in people, stores, and community programs, ensuring benefits flow back into Bermuda’s economy
What??? This represents a virtual monopoly in a vitally important business sector!
It represents economies of scale in order to remain a viable business. People are cutting back and looking for lower prices. Hopefully, prices will not go up as fast. We have a Victory Garden.
But feel free to start your own grocery business.
Hi Kim,
What is wrong with a “virtual monopoly” please?
Is virtual monopoly a board game app?
Some modern economists argue that a monopoly is by definition an inefficient way to distribute goods and services. This theory suggests that it obstructs the equilibrium between producer and consumer, leading to shortages and high prices.
You will get no argument from me on the argument that a monopoly can be by definition an inefficient way to distribute goods and services.
My point was that Kim referred to a “virtual monopoly” as if it was necessarily a bad thing. There are arguments for an against monopolies and duopolies and similar arrangements.