SpartanNash Acquiring Markham Enterprises Inc.

Rhea-AI Summary

SpartanNash (SPTN) has announced its second acquisition this month, signing an Asset Purchase Agreement with Markham Enterprises, which includes three convenience stores and fuel centers in mid-Michigan. The acquisition, expected to close in December, will retain all 42 Markham team members. This follows SpartanNash's recent acquisition of Fresh Encounter Inc. The deal aligns with the company's strategy to expand its fuel center and convenience store footprint, while leveraging insights to innovate across its wholesale business. Financial terms were not disclosed.

Positive

• Strategic expansion of retail footprint with three additional fuel centers and convenience stores
• Retention of existing 42 team members ensuring operational continuity
• Second strategic acquisition in the same month showing aggressive growth execution
• Potential for operational synergies across wholesale business

Negative

• None.

Food solutions company announces its second acquisition this month, now adding three fuel centers and convenience stores to retail footprint

GRAND RAPIDS, Mich., Oct. 29, 2024 /PRNewswire/ -- Food solutions company SpartanNash (the "Company") (Nasdaq: SPTN) today announced that it has entered into an Asset Purchase Agreement with Markham Enterprises, Markham Oil and its affiliates, a three-store chain of convenience stores and fuel distributor in mid-Michigan. Following the closing of this transaction in early December, SpartanNash will continue employment of Markham Enterprises' 42 team members. This deal follows the Company's acquisition of Fresh Encounter Inc., announced earlier this month.

"Markham Enterprises fits well in our current retail portfolio, as we look to expand our fuel center and convenience store footprint," said SpartanNash Executive Vice President and Chief Strategy and Information Officer Masiar Tayebi. "We are in the process of refreshing many of our existing fuel centers, so this acquisition is another exciting milestone in our investment in this part of our business – and in our strategic growth plans overall. We will continue to leverage insights from our fuel centers and convenience stores to continuously innovate our products and operations across our wholesale business, unlocking new customer potential."   

"Our team is impressed with SpartanNash's business model and the importance they place on their People First culture," said Markham President and CEO Denise Markham. "We are excited for the ways SpartanNash will expand this business and continue to serve the Perry, Howell and Lansing communities – and our Associates."  

The transaction is expected to close in December, subject to customary closing conditions. Terms of the deal were not disclosed.

About SpartanNash
SpartanNash (Nasdaq: SPTN) is a food solutions company that delivers the ingredients for a better life. Committed to fostering a People First culture, the SpartanNash family of Associates is 17,000 strong. SpartanNash operates two complementary business segments – food wholesale and grocery retail. Its global supply chain network serves wholesale customers that include independent and chain grocers, national retail brands, e-commerce platforms, and U.S. military commissaries and exchanges. The Company distributes products for every aisle in the grocery store, from fresh produce to household goods to its OwnBrands, which include the Our Family^® portfolio of products. On the retail side, SpartanNash operates 147 brick-and-mortar grocery stores, primarily under the banners of Family Fare, Martin's Super Markets and D&W Fresh Market, in addition to dozens of pharmacies and fuel centers. Leveraging insights and solutions across its segments, SpartanNash offers a full suite of support services for independent grocers. For more information, visit spartannash.com.

CONTACT:
Adrienne Chance 
SVP and Chief Communications Officer
SpartanNash
press@spartannash.com

INVESTOR CONTACT:
Kayleigh Campbell
Head of Investor Relations
kayleigh.campbell@spartannash.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/spartannash-acquiring-markham-enterprises-inc-302290400.html

SOURCE SpartanNash

FAQ

When will SpartanNash (SPTN) complete the Markham Enterprises acquisition?

The acquisition is expected to close in December 2024, subject to customary closing conditions.

How many locations is SpartanNash (SPTN) acquiring from Markham Enterprises?

SpartanNash is acquiring three convenience stores and fuel centers located in Perry, Howell, and Lansing, Michigan.

How many employees will SpartanNash (SPTN) retain from Markham Enterprises?

SpartanNash will continue employment of all 42 Markham Enterprises team members.

What is the purchase price for SpartanNash's (SPTN) acquisition of Markham Enterprises?

The financial terms of the deal were not disclosed in the announcement.