Key Stats
Founded: 1967 (as Waremart)
Headquarters: Boise, Idaho, USA
Ownership: Majority Employee-Owned (ESOP)
Employees: Over 20,000
Stores: 142+ locations (as of 2025)
Revenue: $9.8 billion (2024)
Forbes Ranking: #53 on America’s Largest Private Companies (November 2024)
WinCo Foods, Inc. is a privately held, majority employee-owned supermarket chain based in Boise, Idaho. The company operates warehouse-style grocery stores across ten states: Arizona, California, Idaho, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, and Washington. Founded in 1967 as Waremart, the company rebranded to WinCo Foods in 1999, with the name representing “Winning Company.”
WinCo distinguishes itself through a no-frills approach that prioritizes low prices over customer amenities. Stores feature extensive bulk food sections, basic decor, and a self-bagging policy. The company does not accept credit cards (only debit and EBT cards) to avoid transaction fees, does not employ baggers, operates 24 hours at most locations, and avoids traditional advertising. These cost-cutting measures allow WinCo to offer prices that industry surveys have found to be 20-30% lower than conventional supermarkets.
The company’s ownership structure is central to its identity. In 1985, employees established an Employee Stock Ownership Plan (ESOP) and purchased a controlling stake from the founding family. Today, WinCo is the largest 100% ESOP-owned supermarket chain in the United States and one of the largest employee-owned companies in any industry. Employees receive approximately 20% of their compensation in company stock annually, and shares have seen an average compounded annual growth of 18% since the ESOP’s inception. In early 2025, WinCo ranked fourth on Dunnhumby’s Retailer Preference Index, rising ten spots from the previous year as consumers increasingly prioritize value.
WinCo Foods History
1967
Waremart Founded
Local businessmen Ralph Ward and Bud Williams open the first Waremart store in Boise, Idaho. The warehouse-style discount grocery store focuses on low prices, featuring flat carts and grease pencils for customers to write prices on items.
1970s
Early Expansion
Ralph Ward buys out Bud Williams’ stake in the company. Waremart expands into a small chain of supermarkets across the Pacific Northwest, becoming regionally known for low prices. Bill Long joins the company in 1968 and is named president in 1978.
1985
Employee Ownership Begins
Following Ralph Ward’s death, employees establish an Employee Stock Ownership Plan (ESOP) under CEO Bill Long’s leadership and purchase a majority stake from the Ward family. The 17-store chain becomes employee-owned. Long is named CEO.
1998
Distribution Center Opens
WinCo opens a 900,000-square-foot grocery and perishable distribution center in Woodburn, Oregon. This infrastructure investment enables better cost management and positions the company for accelerated expansion.
1999
Rebranding to WinCo Foods
Following a company-wide contest, Waremart changes its name to WinCo Foods (for “Winning Company”). The name change addresses customer confusion with Kmart and Walmart. Three Oregon stores retain the Waremart name.
2004-2009
California & Utah Expansion
New distribution centers in Modesto, California (2004) and Boise, Idaho (2009) support expansion into California and Utah. The Boise DC becomes the largest free-standing building in Idaho at the time of completion.
2012-2014
Southern & Texas Expansion
WinCo enters Las Vegas and Phoenix in 2012. A new distribution center opens in Phoenix in 2014, followed by a DC in Denton, Texas, enabling the company’s first stores in the Dallas-Fort Worth area. Expansion into Oklahoma follows in 2015.
2025
Continued Growth
WinCo operates 142+ stores across 10 states with over 20,000 employees and $9.8 billion in annual revenue. The company explores entry into Colorado (its potential 11th state) and ranks fourth on Dunnhumby’s Retailer Preference Index.
WinCo Foods Founders
WinCo was founded by two Boise businessmen who saw an opportunity to bring California’s warehouse-style discount grocery concept to the Pacific Northwest.
Ralph Ward
Ralph Ward co-founded Waremart in 1967 with Bud Williams. In the early 1970s, Ward bought out Williams’ stake and grew Waremart into a regional chain of discount supermarkets in the Pacific Northwest. Under his leadership, the company became known for its commitment to low prices and no-frills operations. Ward passed away in 1985, leaving uncertainty about the company’s future. His family sold a majority stake to employees through an ESOP that same year, ensuring the company would continue under the ownership of the people who worked there.
Bill Long
Bill Long joined Waremart as an employee in 1968, just a year after its founding. He rose through the ranks to become company president in 1978 and CEO in 1985. Following Ralph Ward’s death, Long led the effort to establish the Employee Stock Ownership Plan that allowed employees to purchase a majority stake from the Ward family. Under his leadership, WinCo evolved from a 17-store regional chain into a multi-state operation with its own distribution infrastructure. Long’s vision of employee ownership became central to WinCo’s corporate identity and culture, creating one of the largest employee-owned companies in the United States.
Employee Ownership (ESOP)
WinCo’s Employee Stock Ownership Plan is the foundation of its corporate structure and culture. Established in 1985, the ESOP gives employees a direct ownership stake in the company’s success.
All eligible employees participate in the ESOP, receiving approximately 20% of their annual compensation in company stock. There are no employee contributions required—the company contributes shares on behalf of workers. Since 1986, employee shares have seen an average compounded annual growth of 18%. According to company calculations, a $5,000 contribution made in 1986 would now be worth nearly $863,000.
The employee ownership model creates strong alignment between workers and company performance. Because employees directly benefit from cost savings and operational efficiency, they have a personal incentive to keep shelves stocked, minimize waste (WinCo reports spoilage rates below 1%, well under industry average), and provide good customer service. In 2017, WinCo became a founding member of “Certified Employee Owned,” an organization that promotes the benefits of employee ownership. The company is now the largest 100% ESOP-owned grocery chain in the United States.
WinCo Foods Revenue
As a privately held company, WinCo does not publicly report detailed financials. However, Forbes and industry publications provide revenue estimates based on available data.
WinCo Foods Competitors
WinCo competes with a mix of national discount retailers, warehouse clubs, traditional supermarket chains, and regional grocers across its 10-state footprint.
| Company | Type | Notes |
|---|---|---|
| Walmart | Discount Retailer | #1 U.S. grocer, ~21% market share |
| Kroger | Traditional Supermarket | Operates Fred Meyer, Smith’s in WinCo markets |
| Albertsons | Traditional Supermarket | Also Boise-based; operates Safeway, Vons |
| Costco | Warehouse Club | Membership-based bulk retailer |
| Aldi | Discount Grocer | German-owned, similar no-frills model |
| Trader Joe’s | Specialty Grocer | Aldi-owned, private label focus |
| H-E-B | Regional Supermarket | #1 on Retailer Preference Index (Texas) |
| Grocery Outlet | Discount Grocer | West Coast closeout grocer |
| Smart & Final | Warehouse Grocer | California-focused warehouse format |
| Food 4 Less | Warehouse Grocer | Kroger-owned warehouse format |
FAQs
What does “WinCo” stand for?
WinCo stands for “Winning Company.” The name was chosen through an employee contest and vote in 1998-1999 when the company decided to rebrand from Waremart. While there is a popular belief that WinCo is an acronym for the five states where the company originally operated (Washington, Idaho, Nevada, California, Oregon), company executives have called this “part of the folklore.” The company officially states that the name means “Winning Company,” though it acknowledges the five-state interpretation as a “fun fact.”
Why doesn’t WinCo accept credit cards?
WinCo does not accept credit cards in order to avoid paying transaction fees (typically 2-3% per transaction), which would otherwise add to operating costs. By accepting only cash, debit cards, and EBT/WIC cards, WinCo passes those savings on to customers through lower prices. This policy is part of the company’s broader strategy of cutting costs wherever possible to maintain its position as a low-price leader.
Is WinCo employee-owned?
Yes, WinCo is majority owned by its employees through an Employee Stock Ownership Plan (ESOP) established in 1985. All eligible employees participate in the ESOP, receiving approximately 20% of their annual compensation in company stock at no cost to them. The ESOP was formed when employees purchased a controlling stake from the founding Ward family after the death of co-founder Ralph Ward. WinCo is now the largest 100% ESOP-owned grocery chain in the United States.
Where are WinCo stores located?
WinCo operates stores in ten states: Arizona, California, Idaho, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, and Washington. The company is concentrated in the Western United States but expanded into Texas (Dallas-Fort Worth area) in 2014 and Oklahoma in 2015. As of 2025, WinCo appears to be exploring entry into Colorado, which would be its eleventh state. The company operates six distribution centers in Woodburn, Oregon; Myrtle Creek, Oregon; Boise, Idaho; Phoenix, Arizona; Denton, Texas; and Modesto, California.
How does WinCo keep prices so low?
WinCo maintains low prices through a combination of cost-cutting measures: not accepting credit cards (avoiding transaction fees), not employing baggers (customers bag their own groceries), minimal advertising, purchasing directly from manufacturers and farmers, operating its own distribution network (six distribution centers), and running no-frills stores with basic decor. The employee ownership model also contributes to efficiency, as employee-owners have a direct financial incentive to minimize waste and operate efficiently. Industry surveys have found WinCo’s prices to be 20-30% lower than conventional supermarkets.