SpartanNash Acquiring Fresh Encounter Inc., Growing Retail Footprint by 33%
SpartanNash (Nasdaq: SPTN) has announced the acquisition of Fresh Encounter Inc. (FEI), a 49-store supermarket chain operating in Ohio, Indiana, and Kentucky. This acquisition expands SpartanNash's retail footprint by 33% and marks the company's second retail acquisition in 2024. FEI, a long-time SpartanNash customer for 58 years, will bring 2,500 new team members to the SpartanNash family.
The deal aligns with SpartanNash's strategic growth plans and is expected to contribute to the company's 2025 long-term goals. FEI operates under various retail banners including Community Markets, Remke Markets, Chief Markets, and Needler's Fresh Market. The transaction is set to close in late November, subject to customary conditions. Financial terms were not disclosed.
SpartanNash (Nasdaq: SPTN) ha annunciato l'acquisizione di Fresh Encounter Inc. (FEI), una catena di supermercati con 49 punti vendita operante in Ohio, Indiana e Kentucky. Questa acquisizione amplia la presenza al dettaglio di SpartanNash del 33% e rappresenta il secondo acquisto nel settore retail da parte dell'azienda nel 2024. FEI, cliente di lunga data di SpartanNash da 58 anni, porterà 2.500 nuovi membri nel team della famiglia SpartanNash.
L'affare si allinea con i piani strategici di crescita di SpartanNash ed è previsto contribuisca agli obiettivi a lungo termine dell'azienda per il 2025. FEI opera sotto vari marchi di vendita al dettaglio tra cui Community Markets, Remke Markets, Chief Markets e Needler's Fresh Market. La transazione dovrebbe chiudersi a fine novembre, soggetta a condizioni consuete. I termini finanziari non sono stati divulgati.
SpartanNash (Nasdaq: SPTN) ha anunciado la adquisición de Fresh Encounter Inc. (FEI), una cadena de supermercados de 49 tiendas que opera en Ohio, Indiana y Kentucky. Esta adquisición amplía la huella comercial de SpartanNash en un 33% y marca la segunda adquisición minorista de la compañía en 2024. FEI, cliente de SpartanNash desde hace 58 años, traerá a 2,500 nuevos miembros al equipo de la familia SpartanNash.
El acuerdo está alineado con los planes estratégicos de crecimiento de SpartanNash y se espera que contribuya a los objetivos a largo plazo de la compañía para 2025. FEI opera bajo varias marcas de venta minorista, incluyendo Community Markets, Remke Markets, Chief Markets y Needler's Fresh Market. Se espera que la transacción se cierre a finales de noviembre, sujeta a condiciones habituales. Los términos financieros no fueron divulgados.
스파르탄내쉬(SpartanNash) (나스닥: SPTN)가 오하이오, 인디애나, 켄터키에서 운영되는 49개 매장의 슈퍼마켓 체인인 프레시 인카운터(Fresh Encounter Inc.)의 인수를 발표했습니다. 이번 인수는 스파르탄내쉬의 소매 사업 영역을 33% 확장하며, 2024년 두 번째 소매 인수로 기록됩니다. 58년 동안 스파르탄내쉬의 고객이었던 FEI는 스파르탄내쉬 가족에 2,500명의 신규 팀원을 추가할 것입니다.
이번 거래는 스파르탄내쉬의 전략적 성장 계획에 부합하며, 2025년 장기 목표 달성에 기여할 것으로 예상됩니다. FEI는 Community Markets, Remke Markets, Chief Markets, Needler's Fresh Market 등 다양한 소매 브랜드 아래에서 운영되고 있습니다. 이 거래는 일반적인 조건에 따라 11월 말에 마무리될 예정입니다. 재무 조건은 공개되지 않았습니다.
SpartanNash (Nasdaq: SPTN) a annoncé l'acquisition de Fresh Encounter Inc. (FEI), une chaîne de supermarchés comptant 49 magasins opérant dans l'Ohio, l'Indiana et le Kentucky. Cette acquisition élargit l'empreinte de vente au détail de SpartanNash de 33% et constitue la deuxième acquisition dans le secteur de la vente au détail pour l'entreprise en 2024. FEI, client de longue date de SpartanNash depuis 58 ans, va amener 2 500 nouveaux membres dans la famille SpartanNash.
Ce deal s'aligne avec les plans de croissance stratégique de SpartanNash et devrait contribuer aux objectifs à long terme de l'entreprise pour 2025. FEI opère sous plusieurs enseignes de vente au détail, y compris Community Markets, Remke Markets, Chief Markets et Needler's Fresh Market. La transaction devrait se conclure fin novembre, sous réserve de conditions habituelles. Les conditions financières n'ont pas été divulguées.
SpartanNash (Nasdaq: SPTN) hat die Übernahme von Fresh Encounter Inc. (FEI) angekündigt, einer Supermarktkette mit 49 Filialen in Ohio, Indiana und Kentucky. Diese Übernahme erweitert die Einzelhandelspräsenz von SpartanNash um 33% und stellt die zweite Einzelhandelsakquisition des Unternehmens im Jahr 2024 dar. FEI, seit 58 Jahren ein langjähriger Kunde von SpartanNash, wird 2.500 neue Teammitglieder zur Familie SpartanNash bringen.
Der Deal stimmt mit den strategischen Wachstumsplänen von SpartanNash überein und wird voraussichtlich zur Erreichung der langfristigen Ziele des Unternehmens für 2025 beitragen. FEI operiert unter verschiedenen Einzelhandelsmarken, darunter Community Markets, Remke Markets, Chief Markets und Needler's Fresh Market. Die Transaktion soll Ende November abgeschlossen werden, vorbehaltlich üblicher Bedingungen. Die finanziellen Einzelheiten wurden nicht bekanntgegeben.
- Expands retail footprint by 33%, entering Kentucky market and growing presence in Ohio and Indiana
- Adds 49 stores to SpartanNash's retail portfolio
- Acquisition aligns with company's strategic growth plans and 2025 long-term goals
- Integrates 2,500 new team members into SpartanNash's workforce
- None.
Insights
SpartanNash's acquisition of Fresh Encounter Inc. (FEI) is a significant strategic move that expands their retail footprint by
The acquisition brings 49 new stores across three states, including a new market in Kentucky. This expansion not only increases SpartanNash's geographic presence but also adds approximately 2,500 employees to their workforce. The deal leverages a long-standing 58-year business relationship, which could facilitate smoother integration and synergies.
While financial terms weren't disclosed, this acquisition is likely to positively impact SpartanNash's revenue and market share. However, investors should watch for integration costs and any potential short-term impact on margins. The move strengthens SpartanNash's vertical integration strategy, potentially improving supply chain efficiency and providing valuable consumer insights for their wholesale business.
This acquisition signifies a notable shift in the regional grocery landscape. By absorbing FEI, SpartanNash is consolidating its position in the Midwest, particularly in Ohio and Indiana, while expanding into Kentucky. This move could lead to increased market concentration and potentially alter competitive dynamics in these areas.
The retention of FEI's 2,500 employees and continuation of existing store banners suggests a strategy to maintain local market presence and customer loyalty. This approach could help mitigate risks associated with brand transition and allow SpartanNash to benefit from FEI's established customer base.
The timing of this acquisition, amidst challenging economic conditions and evolving consumer behaviors post-pandemic, indicates SpartanNash's confidence in the resilience of physical retail. It also reflects a broader industry trend of consolidation among regional grocery chains as they seek economies of scale to compete with national players and e-commerce giants.
The 49-store chain with locations in
"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
The FEI acquisition expands SpartanNash's retail footprint by
"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
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
FAQ
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