Thriftimart
| Company type | Private |
|---|---|
| Industry | Supermarket |
| Founded | 1930 |
| Founder | Roger M. Laverty |
| Defunct | 1984 |
| Fate | Rebranded as Smart & Final Iris Co. |
| Headquarters | Los Angeles , United States |
Area served | Greater Los Angeles |
Key people | Roger M. Laverty (founder), Robert Edward Laverty (president and chairman from 1968) |
| Products | Groceries, supermarket products |
Number of employees | 3,000 (1960) |
Thriftimart was a supermarket chain operating in Greater Los Angeles until its closure in 1984. It was established by Roger M. Laverty. Several locations have since transitioned to Smart & Final outlets, now under the ownership of Mexico City-headquartered Chedraui.
History
| Year | Company name | Operated chains |
|---|---|---|
| 1930 | Fitzsimmons Stores, Ltd. | Fitzsimmons Thriftimart |
| 1940s | Fitzsimmons Thriftimart Roberts | |
| 1955 | Fitzsimmons (until late 1950s) Thriftimart (until 1984) Roberts (until 1960s) Smart & Final Iris | |
| 1957 | Thriftimart, Inc. | |
| 1984 | Smart & Final Iris Co. A subsidiary of Casino USA Inc. |
Smart & Final Iris |
Fitzsimmons Markets, Ltd. Era (1930-1957)
Born in 1890 in Pittsburgh, Pennsylvania, Roger Montgomery Laverty served as vice president for the Central Division of the A&P, which was then the largest grocery chain in the United States. In 1930, Laverty and associates acquired Fitzsimmons Stores, Ltd., a modest chain of markets based in Los Angeles. By 1939, Fitzsimmons had absorbed nine Thriftimart outlets, and in 1947, Laverty purchased Thriftimart Inc., maintaining the Fitzsimmons Stores, Ltd. corporate identity. In 1948, Fitzsimmons Stores Ltd. reported sales totaling $19,931,475.
The following year, Fitzsimmons Stores Ltd. expanded further by acquiring Fred Roberts & Co., which operated Roberts Markets—a chain of 19 stores concentrated around Los Angeles—as well as 15 liquor outlets. Roberts had generated sales of $18,889,948 during 1948, slightly below Fitzsimmons’ figures for that same year.
Southeast Los Angeles County (1)
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Westside (Los Angeles County) (10) Venice:
West L.A.:
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Westside continued:
Santa Monica:
Culver City:
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Long Beach (1)
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| T=Thriftimart, R=Roberts, F=Fitzsimmons, FL=Foodland RR=Roberts Ranch CR=Clark's Ranch B=Bill's | |||
|---|---|---|---|
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Central Los Angeles & nearby areas (5)
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Westside (Los Angeles County) (14)
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San Fernando Valley (14)
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South Bay (3)
Long Beach (4)
Southeast Los Angeles County (2)
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In a major move in 1954, Fitzsimmons acquired the expansive Big Owl supermarket located at Valley Plaza, North Hollywood. This store measured approximately 44,000 sq ft (4,100 m2) and was subsequently rebranded under the Thriftimart banner. Originally developed by the Owl Drug Company, Big Owl was designed after extensive shopper behavior research to minimize walking distance during shopping trips. The store featured an innovative "stores-within-a-store" concept unusual for its era—housing Van de Kamp's Bakeries, See's Candies, a soda grill for quick bites and snacks, barber services, dry cleaners, watch repair facilities, and merchandise such as china and gifts. It boasted twelve checkout lanes equipped with electric cash registers allowing customers to pay for all departments at once—a relatively new feature at the time—nine public entrances, and parking capacity for approximately seven hundred fifty vehicles. Shoppers could observe meat being packaged behind glass and transported via an extensive conveyor system to refrigerated display cases. The Big Owl neon sign was reputedly the brightest west of Chicago.
In the following year of 1955, Fitzsimmons Stores Ltd. expanded its wholesale operations by purchasing Smart & Final Iris company along with its cash-and-carry stores.
As Thriftimart, Inc. (1957–1984)
In 1957, Fitzsimmons Stores Ltd. adopted the name Thriftimart, Inc., explaining that the Thriftimart brand had become synonymous with leadership in the grocery sector, making it the most fitting identity for the company. At that point, there were 43 stores operating under the Thriftimart banner alongside those still branded Fitzsimmons.
Thriftimart, Inc. expanded in tandem with the growth of Greater Los Angeles. By May 1960, the company operated 50 Thriftimart grocery locations: 44 within Los Angeles County (including one in Lancaster), plus additional stores in Riverside, San Bernardino County (Colton), two in Bakersfield, and two in Las Vegas. This number increased to 56 stores employing approximately 3,000 people by October 1960 and reached 77 outlets by 1971. By 1976, Thriftimart had grown to 79 supermarkets, complemented by 86 cash-and-carry facilities and five warehouses.
In 1968, leadership passed to Robert Edward Laverty, who assumed the roles of president and chairman of the board.
The final new store under the Thriftimart name was opened in 1971. By 1983, with a portfolio of 43 stores, Thriftimart recognized its inability to compete in the evolving market favoring larger supermarkets. Its average store size was about 30,000 sq ft (2,800 m2), considerably smaller than competitors' average of 45,000 sq ft (4,200 m2). Despite efforts to find a buyer among major regional chains such as Boys, Hughes, Lucky, Ralphs, Safeway, and Vons, no acquisition interest materialized.
As Smart & Final Iris Co. (1984–)
In 1984, the company formerly known as Thriftimart, Inc. rebranded itself as Smart & Final Iris Co. In June of that year, Casino USA Inc. purchased an 8.3% stake in Class A shares previously held by film industry executives Michael Forman and James Cotter.
On March 1, 1984, Thriftimart announced plans to sell 23 of its then-40 stores to Safeway Stores, Inc., based in Oakland, California. Safeway operated around 2,500 supermarkets but had limited presence in Los Angeles and Orange Counties at that time, ranking fifth behind Ralphs, Vons, Lucky, and Alpha Beta. Following this sale, Thriftimart retained ownership of 17 stores.
Later that year in September, Casino acquired majority control of Smart & Final Iris (the former Thriftimart) by purchasing an aggregate 87% of Class B shares from founder’s descendants Roger Laverty II, Robert Laverty, and Nancy Harris for $75 million. The Class B shareholders held five out of nine seats on the company's board of directors.