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PriceSmart, Inc. is an American operator of membership warehouse clubs in Central America, the Caribbean, and South America. PriceSmart was founded by Sol and Robert Price, founders of The Price Club ; Robert Price is chairman of the board.
In November 2001, PriceSmart opened its first branch on a 5,000 m 2 (0.50 ha) property in Bonifacio Global City, then known as The Fort. [ 4 ] [ 5 ] [ 6 ] In 2005, PriceSmart sold its share in the joint venture and was acquired by the Co family in 2006, and the retail chain was renamed as S&R Membership Shopping.
PriceSmart Foods is a chain of supermarkets located in British Columbia, Canada. It is a wholly owned subsidiary of the Overwaitea Food Group , which is owned by the Jim Pattison Group . PriceSmart shares the same brands and rewards card system as other Overwaitea chains, including Save-On-Foods .
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Sol Price (January 23, 1916 – December 14, 2009) was an American retailer and the founder of FedMart, Price Club (which ultimately merged into Costco) and PriceSmart. [1] He was considered the "father" of the " warehouse store " retail model.
Contact Kali Hays securely through Signal at +1-949-280-0267 or at kali.hays@fortune.com. This story was originally featured on Fortune.com. Show comments. Advertisement. Advertisement.