Spartan Stores buying Nash Finch in all-stock deal
Updated: Monday, July 22 2013, 07:59 PM EDT
GRAND RAPIDS, Mich. (AP) - Food distributor Spartan Stores is buying Nash Finch in an all-stock deal valued at about $312 million.
The move announced Monday by Grand Rapids, Mich.-based Spartan Stores will expand its distribution area.
Nash Finch is a major grocery distributor to military commissaries. Spartan Stores has grocery distribution and retail operations in Michigan, Indiana and Ohio while Nash Finch's military commissaries distribution activities are supported by a wholesale grocery network.
Spartan Stores President and CEO Dennis Eidson says the deal "provides a unique opportunity" to combine the two networks.
The combined company will include 22 distribution centers that cover 37 states and 177 retail stores. It will keep operations in both Minneapolis and Grand Rapids.
Nash Finch's military business will continue to be based in Norfolk, Va.