The 49-store chain with locations in
Ohio, Indiana and Kentucky has been a SpartanNash independent
grocer customer for 58 years
GRAND
RAPIDS, Mich., Oct. 14,
2024 /PRNewswire/ -- Food solutions company
SpartanNash (the "Company") (Nasdaq: SPTN) today announced its
acquisition of Fresh Encounter Inc. ("FEI"), a 49-store supermarket
chain serving Ohio, Indiana and Kentucky. Owned by third-generation grocers
Michael Needler Jr. and Julie Anderson, FEI has been a food distribution
customer of SpartanNash for 58 years. SpartanNash will
continue employment for FEI's 2,500 team members.
"Fresh Encounter has been a successful family-owned and operated
business for decades, and we are proud to continue this legacy,"
said SpartanNash CEO Tony Sarsam.
"This acquisition is an exciting milestone in our Company's
strategic growth plans. Not only will we welcome 2,500 new
Associates to the SpartanNash family, we will also begin serving
shoppers in Kentucky and grow our
existing footprint across Ohio and
Indiana. Retail is a critical
component of our business model and long-term strategic plan, as we
meet consumer needs and leverage insights from our stores to
continuously innovate our products and operations across our
wholesale business."
The FEI acquisition expands SpartanNash's retail footprint by
33% and is the Company's second retail acquisition in 2024,
following the addition of Metcalfe's Market in April. This acquisition
is consistent with SpartanNash's strategy and will contribute
toward the growth and earnings goals shared in the Company's 2025
long-term plan, Sarsam added.
"We are proud of the business our family has built and look
forward to advancing our relationship with SpartanNash," said FEI
CEO Needler. "As their customer, we have seen firsthand the
People First culture at SpartanNash, and we appreciate the
career opportunities and growth this will unlock for Fresh
Encounter team members."
FEI operates under the retail store banners Community Markets,
Remke Markets, Chief Markets and Needler's Fresh Market. The
transaction is expected to close in late November, 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 17,500 and growing. 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.
PRESS CONTACT:
Adrienne Chance
SVP, Chief Communications Officer
SpartanNash
press@spartannash.com
INVESTOR CONTACT:
Kayleigh Campbell
Head of Investor Relations
kayleigh.campbell@spartannash.com
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SOURCE SpartanNash
