Caroline MacGregor July 22, 2013 | WGVU Leading
regional grocery distributor and retailer, Spartan Stores, has grocery
distribution and retail operations throughout Michigan, Indiana and Ohio while
Nash Finch’s military commissaries distribution activities are spread out across
President and CEO, Dennis Eidson, calls the merger a unique opportunity to
combine the two networks. Together,
Spartan Stores and Nash Finch will have 22 distribution centers and will extend
their geographic reach, covering 37 states, 177 retail stores.
Vice President of Communications, Jeanne Norcross, says they have to go through a regulatory shareholder review
and will keep associates and independent retailers informed along each step of
the way. The
company’s private brands will include Spartan’s namesake brand as well as Nash
Finch’s Our Family and Nash Brothers Trading Company brands.
News of the
merger has sent shares soaring with shares of Nash Finch jumping $6.84, or 27
percent, to $32.27 in premarket trading Monday. Spartan Stores shares rose
more than 20 percent, to $25.50 and Spartan
shareholders will own nearly 58 percent of the combined company; Nash Finch
stockholders will own 42 percent.
says annual savings are anticipated to be about $50 million by the third full
fiscal year of operations. The deal is expected to close by the end of the year
following approval of Spartan and Nash Finch shareholders.
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