Spartan Stores and Nash Finch to Combine

Ninth-largest grocery distributor in the United States, Spartan Stores, is set to merge with Nash Finch Co. in a deal that creates a combined entity with $7.5 billion in annual sales and access to U.S. military stores at home and abroad.
“Together, we will create one of the premier grocery wholesaler and retail operators, with a comprehensive portfolio of high quality private brands, nationwide distribution services and a strong platform for future growth,” said Dennis Eidson, President and Chief Executive Officer of Spartan Stores.
The all-stock deal is valued at $1.3 billion. The two companies combined will have 22 distribution centers covering 37 states, 177 retail stores and will be the leading distributor to military commissaries and exchanges in the United States.
Nash Finch shareholders will receive a fixed ratio of 1.20 shares of Spartan Stores common stock for each share of Nash Finch common stock they own.
Closing is expected by the end of calendar 2013, at which point Spartan Stores shareholders will own approximately 57.7% of the equity of the combined company and Nash Finch shareholders will own approximately 42.3%.
“By combining our resources, expertise and talent we will become a stronger and more efficient organization with an enhanced ability to leverage our size, geographic reach and hybrid business model to better compete in the evolving grocery industry,” concluded Eidson.
Nash Finch