SpartanNash Acquiring Markham Enterprises Inc.
SpartanNash (SPTN) has announced its second acquisition this month, signing an Asset Purchase Agreement with Markham Enterprises, which includes three convenience stores and fuel centers in mid-Michigan. The acquisition, expected to close in December, will retain all 42 Markham team members. This follows SpartanNash's recent acquisition of Fresh Encounter Inc. The deal aligns with the company's strategy to expand its fuel center and convenience store footprint, while leveraging insights to innovate across its wholesale business. Financial terms were not disclosed.
SpartanNash (SPTN) ha annunciato la sua seconda acquisizione di questo mese, firmando un Accordo di Acquisto di Attivi con Markham Enterprises, che include tre negozi di convenienza e centri di carburante nel centro del Michigan. L'acquisizione, prevista per chiudere a dicembre, manterrà tutti i 42 membri del team Markham. Questo segue l'acquisizione recente da parte di SpartanNash di Fresh Encounter Inc. L'affare è in linea con la strategia dell'azienda di espandere la propria presenza nei centri di carburante e nei negozi di convenienza, sfruttando le intuizioni per innovare in tutto il suo business all'ingrosso. I termini finanziari non sono stati divulgati.
SpartanNash (SPTN) ha anunciado su segunda adquisición de este mes, firmando un Acuerdo de Compra de Activos con Markham Enterprises, que incluye tres tiendas de conveniencia y centros de combustible en el centro de Michigan. Se espera que la adquisición se cierre en diciembre y retendrá a los 42 miembros del equipo Markham. Esto sigue a la reciente adquisición de SpartanNash de Fresh Encounter Inc. El acuerdo está alineado con la estrategia de la compañía para expandir su presencia en centros de combustible y tiendas de conveniencia, aprovechando las ideas para innovar en su negocio mayorista. No se revelaron los términos financieros.
SpartanNash (SPTN)는 이달 두 번째 인수를 발표하였으며, Markham Enterprises와 자산 매매 계약을 체결했습니다. 이 계약에는 미시간 중부에 있는 세 개의 편의점과 주유소가 포함됩니다. 이번 인수는 12월에 마무리될 예정이며, Markham의 42명의 팀원 모두가 유지됩니다. 이는 SpartanNash가 최근 Fresh Encounter Inc.를 인수한 것의 연속입니다. 이 거래는 회사의 주유소 및 편의점 확장 전략과 맞물려 있으며, 도매업 전반에 걸쳐 혁신을 이루기 위한 통찰력을 활용할 것입니다. 재무 조건은 공개되지 않았습니다.
SpartanNash (SPTN) a annoncé sa deuxième acquisition de ce mois, en signant un Accord d'Achat d'Actifs avec Markham Enterprises, qui comprend trois magasins de proximité et stations-service dans le centre du Michigan. L'acquisition, qui devrait se conclure en décembre, conservera tous les 42 membres de l'équipe Markham. Cela fait suite à l'acquisition récente de Fresh Encounter Inc. par SpartanNash. L'accord s'inscrit dans la stratégie de l'entreprise d'élargir sa présence dans le secteur des stations-service et des magasins de proximité, tout en exploitant des informations pour innover dans son activité de gros. Les conditions financières n'ont pas été divulguées.
SpartanNash (SPTN) hat bekannt gegeben, dass es diesen Monat seine zweite Akquisition angekündigt hat, indem es einen Vermögensübertragungsvertrag mit Markham Enterprises unterzeichnet hat, der drei Convenience Stores und Tankstellen in Zentralmichigan umfasst. Der Abschluss der Akquisition wird für Dezember erwartet und wird alle 42 Teammitglieder von Markham behalten. Dies folgt auf die kürzliche Übernahme von Fresh Encounter Inc. durch SpartanNash. Der Deal steht im Einklang mit der Strategie des Unternehmens, seine Präsenz in Tankstellen und Convenience Stores auszubauen und gleichzeitig Erkenntnisse zu nutzen, um in seinem Großhandelsgeschäft Innovationen voranzutreiben. Finanzielle Einzelheiten wurden nicht bekannt gegeben.
- Strategic expansion of retail footprint with three additional fuel centers and convenience stores
- Retention of existing 42 team members ensuring operational continuity
- Second strategic acquisition in the same month showing aggressive growth execution
- Potential for operational synergies across wholesale business
- None.
Insights
This strategic acquisition of Markham Enterprises strengthens SpartanNash's retail presence in Michigan, marking their second acquisition this month following Fresh Encounter Inc. The deal adds three fuel centers and convenience stores, plus brings in 42 employees. While financial terms weren't disclosed, this move aligns with SpartanNash's expansion strategy in the fuel center and convenience store segment.
The acquisition provides multiple synergistic benefits:
- Geographic expansion in mid-Michigan markets
- Operational insights to enhance wholesale business
- Integration with existing fuel center refresh initiatives
Food solutions company announces its second acquisition this month, now adding three fuel centers and convenience stores to retail footprint
GRAND RAPIDS, Mich., Oct. 29, 2024 /PRNewswire/ -- Food solutions company SpartanNash (the "Company") (Nasdaq: SPTN) today announced that it has entered into an Asset Purchase Agreement with Markham Enterprises, Markham Oil and its affiliates, a three-store chain of convenience stores and fuel distributor in mid-
"Markham Enterprises fits well in our current retail portfolio, as we look to expand our fuel center and convenience store footprint," said SpartanNash Executive Vice President and Chief Strategy and Information Officer Masiar Tayebi. "We are in the process of refreshing many of our existing fuel centers, so this acquisition is another exciting milestone in our investment in this part of our business – and in our strategic growth plans overall. We will continue to leverage insights from our fuel centers and convenience stores to continuously innovate our products and operations across our wholesale business, unlocking new customer potential."
"Our team is impressed with SpartanNash's business model and the importance they place on their People First culture," said Markham President and CEO Denise Markham. "We are excited for the ways SpartanNash will expand this business and continue to serve the
The transaction is expected to close in December, 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 17,000 strong. 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.
CONTACT:
Adrienne Chance
SVP and 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
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