News Alert: Total Wine & More CEO Troy Rice Stepping Down In Mid-August
July 29, 2025Troy Rice, who has served as chief executive of national retail chain Total Wine & More since 2022, will depart the company August 15, having accepted a new opportunity closer to his family in Atlanta. Named a Market Watch Leader in 2021, Rice joined Total Wine in 2017 as chief stores officer and also served as chief operating officer before becoming chief executive.
“This decision comes from a deeply personal place, as the move allows me to be closer to my family,” said Rice. “It has been an extraordinary privilege to serve Total Wine & More. I am proud of the strong, people-driven culture we have built and the ambitious growth we have achieved.”
In a statement, Total Wine credited Rice with playing “a pivotal role in shaping Total Wine & More’s strategic direction and operational excellence. In his roles as Chief Stores Officer and later as CEO, he led the company to achieve significant expansion, growing the national store footprint to 284 locations and driving record sales performance.” Total Wine added that its executive leadership team will oversee operations as it conducts a search for Rice’s successor.
With $6 billion in annual revenue and a footprint covering 29 states, Total Wine was founded by brothers David and Robert Trone in 1991 and has grown into a colossus on the national retail scene. The Trone brothers were named Market Watch Leaders in 1993 and Retailers of the Year in 2006, and along the way they’ve also earned accolades for community service and advertising. David Trone joined the U.S. House of Representatives in 2019 and just left office earlier this year, while Robert has stayed on at the helm of Total Wine as co-owner.
The company serves 18.5 million customers a year, with as many as 260 million bottles of wine and spirits purchased from its stores annually. Spirits have grown to hold the largest share of Total Wine’s sales at 43%, followed by wine at 38%, and beer and miscellaneous items at the remaining 19%.
The company is approaching 300 units—a number it hopes to hit by the end of 2025. Last year, Total Wine opened 14 stores nationwide, and Rice told SND recently that the company will add a similar amount this year.—Daniel Marsteller
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