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Cumberland Farms, colloquially known as Cumby's, is a regional chain of convenience stores based in Westborough, Massachusetts, operating primarily in New York, New England and Florida. Cumberland Farms operates 566 retail stores, gas stations, and a support system including petroleum and grocery distribution operations in 8 states, including Connecticut, Florida, Massachusetts, Maine, New Hampshire, New York, Rhode Island, and Vermont. Its original colors were navy blue and orange, but in 2009, they rebranded with a new logo and colors (navy blue and green).[1] The new logo change marked the beginning of the transformation of Cumberland Farms stores from older, legacy stores to new AIM stores that now include numerous new fresh food items such as pizza, chicken sandwiches, subs, and a roller grill. The company is owned by the Haseotes family, with Ari Haseotes serving as the CEO, President, and Director, and Stephen Winslow as the chief financial officer and senior vice president of Cumberland Farms Inc.[2] It is one of the largest retail chains to be completely privately owned.[3] Cumberland Farms offers a large assortment of food service items, candy, snacks, and chilled drinks, which it calls "The Chill Zone", along with Cumberland Farms branded chips, pastries, candy, and coffee, etc.[citation needed]

Cumberland Farms Inc.
Private
IndustryRetail
Founded1939
Cumberland, Rhode Island
HeadquartersWestborough, Massachusetts
Number of locations
566
Key people
Haseotes family, Owner
Ari Haseotes, Chief Executive Officer
ProductsConvenience stores
Gas station
RevenueUS$16 billion (2014)
Number of employees
6,000
Websitewww.CumberlandFarms.com

HistoryEdit

 
Interior of a Cumberland Farms store in Beekman, New York

In 1938, Vasilios and Aphrodite Haseotes purchased a single-cow farm in Cumberland, Rhode Island,[4] which eventually grew into the largest[citation needed] dairy farm in Southern New England. Cumberland Farms opened a dairy store in Bellingham, Massachusetts in 1958[5] and the first convenience store in the northeastern United States in 1962.[6]

In the late 1960s the Cumberland Farms had a successful ad campaign that helped expand their franchise, in part due to catchy jingles written by Brad Delp, who later co-founded the rock band Boston with Tom Scholz.

Cumberland Farms had been a two-thirds limited partner in the Gulf Oil company since 1993, while it has owned the rights to sell gasoline under the Gulf name throughout the United States since 1986. In 2016, Cumberland Farms sold its portion of Gulf Oil.[7]

In September 2010, Cumberland Farms sold 61 locations [8], then in June 2011 closed an additional 29 stores [9]. According to management, these sales and closures were to redeploy capital to their remaining stores and new builds.

In July 2018, Cumberland Farms closed several Florida locations to focus their attention on the state's East Coast. [10]

In the past, Cumberland Farms television ads have featured actor David Hasselhoff. In spring 2019, Cumberland Farms TV ads began using retired pro wrestling star, "The Nature Boy", Ric Flair.

In April 2019, Cumberland Farms was reported to have retained Bank of America to explore a possible sale of the entire chain. [11]

ReferencesEdit

  1. ^ Van der Pool, Lisa (August 7, 2009). "New Cumberland Farms President Looks to Take on Dunkin' and Starbucks". Retrieved October 28, 2016. The new stores, which started rolling out in February...
  2. ^ "Cumberland Farms, Inc.: CEO and Executives". Bloomberg L.P. Retrieved October 18, 2017.
  3. ^ "Archived copy". Archived from the original on 2012-07-28. Retrieved 2009-12-29.CS1 maint: Archived copy as title (link)
  4. ^ "Ari Haseotes, Chief Executive Officer". Cumberland Farms. Retrieved March 17, 2018.
  5. ^ http://www.fundinguniverse.com/company-histories/Cumberland-Farms-Inc-Company-History.html
  6. ^ http://www.cumberlandfarms.com/CompanyInfo/CompanyFacts.aspx
  7. ^ 1/13/2010. Gulf Oil L.P. acquires brand rights for the entire US Boston.com. Accessed August 2011.
  8. ^ https://csnews.com/cumberland-farms-sell-61-c-stores
  9. ^ https://risnews.com/cumberland-farms-closes-29-stores
  10. ^ https://www.chronicleonline.com/news/local/citrus-cumberland-farms-stores-closing-their-doors/article_9ac81ac6-8b69-11e8-a2d6-bb959b3bc2ed.html
  11. ^ https://www.wbjournal.com/article/cumberland-farms-reportedly-exploring-sale

External linksEdit