Rich’s is making organizational changes to position the company for future growth. In a message shared with associates, CEO Richard Ferranti explains the rationale behind the changes and the strategic moves Rich’s is making to ensure it remains a family-owned business, headquartered in Buffalo, NY, that’s successful over the long term.
A message from the CEO
For 81 years, Rich’s has been a growth story.
From planting our roots on Niagara Street to expanding around the globe, we’ve entered new markets, built new capabilities, pioneered new innovations and continuously evolved with one goal in mind: remaining a family-owned business, headquartered in Buffalo, NY, that’s successful over the long term.
Earlier today, I opened my town hall by talking about change. Change is not new to Rich’s. You don’t succeed for eight decades by standing still. What is new is the nature of change and the unprecedented pace at which it’s happening.
This is not unique to us; it’s the environment all businesses are navigating. Customers expect more. Competition intensifies. Technology and AI are fundamentally reshaping how work gets done. Entire industries are being transformed in real time. What used to take years now happens in months. What once took months now happens in days, hours or even minutes.
And the reality is, the pace is only going to get faster. We don’t get to decide whether change happens. We only get to decide how we respond and anticipate what’s next.
Listening with Purpose
Over the past year, we’ve spent a great deal of time listening. We talked with customers, suppliers, external experts, new leaders and associates across our company. The perspectives varied, but the message was remarkably consistent.
People see tremendous strengths in Rich’s: our global scale, great brands, talented people, deep and trusted customer relationships, and significant opportunities for growth. They also see where we need to improve. We are not fast enough. Decisions take too long. Often, layers and processes get in the way of speed and performance, rather than enabling success.
The feedback was clear: our opportunities are too great to be constrained by complexity or ways of working that no longer serve us or our customers. That input helped shape the path we’re taking. To create greater customer value, accelerate innovation, and fully leverage the technology and infrastructure we’re building, we must evolve how we operate.
And that is exactly what we are doing.
But recognizing the need for change does not make its impact any less personal, or any less real. This week, associates across our global company learned how these decisions will affect our organization and people. Some are taking on new roles and opportunities. Some are joining new teams and adapting to new ways of working. And others will be leaving Rich’s after making meaningful contributions during their time with us.
To be transparent, this means that approximately 380 people across our global organization will be departing. These associates helped build the company we are today and will always be a part of our story. In keeping with our values, we will support them with care and respect throughout this transition.
At the same time, we’re continuing to invest in the capabilities we need for the future, including nearly 200 new, open and evolved roles across our company. We are making deliberate choices today to position Rich’s for what’s next.
Growing From a Position of Strength
All healthy organizations are fundamentally about growth. And our vision has never been clearer: to become a $10 billion global family business that is customer obsessed, innovation driven and digitally powered, inspired by exceptionally talented and engaged associates.
But Vision 2030 is more than a growth aspiration. It is a statement about the company we must become to win in the future. We know where we want to go. Now we need to implement the structure to get us there.
We are redesigning how we work to execute at speed by simplifying how we operate, clarifying ownership and strengthening the capabilities we need for the future. Because speed isn’t simply about moving faster. It comes from great execution and strong leadership, with people aligned around clear priorities who are empowered to deliver.
We are also continuing to invest. Across Rich’s, we’re developing a more productive and sophisticated supply chain, strengthening our data, analytics and AI capabilities, accelerating innovation and R&D, advancing our product technology, and building a more focused commercial organization around the areas where we see the greatest growth potential. These investments will help us understand customers and consumers more deeply, turn insights into tangible results, bring ideas to market faster, and create the distinctive value our customers need to grow their businesses.
Looking Forward
Our new organization will take effect on January 1, 2027. Between now and then, teams will work through a detailed change management plan to support our people, maintain continuity for customers and prepare for a smooth transition – all while staying focused on closing the year strong as we prepare for the future.
Change is complex, and we will learn and adjust along the way. When something is not working, we all have a responsibility to raise the challenge and solve it. We’ll be transparent about our progress and hold ourselves accountable for delivering meaningful results.
Yes, we are evolving, but we are not changing who we are or what we stand for: our timeless values, our commitment to customers, our investment in great leadership, and our focus on remaining a successful, family-owned company for generations to come.
This is the next chapter in our growth story. Thank you for being part of what we have built and what we will become.
Richard
FAQ
- Why is Rich’s making these changes?
- This is the next chapter in Rich’s 80+ year growth story. Rich’s is redesigning our organization, including the structure, roles, and capabilities we require, to create greater value for our customers and ensure we remain competitive well into the future.
- Is Rich’s for sale?
- No. Rich’s is not for sale. The Rich family remains committed to Rich’s as a private, family-owned business, headquartered in Buffalo, NY, for the long term.
- Is Rich’s leaving Buffalo?
- No. Rich’s is fully committed to remaining a private, family-owned business, headquartered in Buffalo, NY, for the long term.
- In fact, Rich’s continues to invest in Buffalo, our home for 81 years. Recent investments include:
- Rich’s invested more than $3 million into its new Customer Innovation Center at its world headquarters campus.
- Rich’s is investing approximately $10 million the relocation of its subsidiary business, ROAR Logistics, to 1120 Niagara St., as well as the acquisition of the historic Curtiss Malt House property at 1100 Niagara St.
- Rich’s recently announced the commitment of more than $2 million to support local education through Say Yes Buffalo, Buffalo Prep and the BISON Children’s Scholarship Fund.
- Is Rich’s leaving St. Simons?
- No. Rich’s remains fully committed to St. Simons and the important role it plays in our business and future. We are not leaving the area or moving our operations.
- Over the past five years, we’ve invested approximately $6 million in our St. Simons campus, including $2.7 million in our St. Simons R&D facility, and together, our St. Simons and Brunswick locations employ approximately 400 people.
- Annually, Rich’s supports nearly 40 organizations across Coastal Georgia, and that commitment will continue.
