The battle between the region’s largest grocers over new e-commerce initiatives continues to escalate.
Grocery retailer and distributor SpartanNash Co. plans to unveil a new e-commerce service that will allow customers to order products online and pick them up at a store.
The 2,000-plus cyclers who will pedal through West Michigan this June for the Gran Fondo event will do more than just get in a day’s ride.
A recently completed acquisition could help SpartanNash Co. (NASDAQ: SPTN) expand its presence in the food distribution space
Five West Michigan companies rank among the top performing organizations in the nation for providing an inclusive environment for lesbian, gay, bisexual and transgender (LGBT) workers.
Here is the MiBiz Growth Report for Nov. 14, 2016:
• M&A: Byron Center-based SpartanNash Co. (Nasdaq: SPTN) signed a definitive agreement to acquire certain assets of Caito Foods Service Inc. and its Blue Ribbon Transport business for about $217.5 million in cash, according to a statement. The deal includes an earn-out potential of an additional $12.4 million if the business hits performance targets. SpartanNash, which expects the transaction to be accretive to 2017 earnings, will fund the deal with proceeds from its lending facility. Subject to regulatory and other approvals, the deal is anticipated to close in early January 2017. The combined Caito and Blue Ribbon Transport businesses generate annual revenues exceeding $600 million. Caito supplies fresh fruit and vegetables to groceries and distributors in 22 states in the Southeast, Midwest and Eastern regions of the country. The company has facilities in Indiana, Ohio and Florida. SpartanNash was advised on the deal by Deutsche Bank (financial) and Morgan Lewis (legal).
SpartanNash Co. is expanding its capacity in produce distribution and fresh-prepared foods with the acquisition of an Indianapolis firm.
Food distributor and retailer SpartanNash Co. has promoted COO Dave Staples to the role of president and COO.
At the company’s quarterly board of directors meeting, long-time executive Tammy Hurley was named the chief accounting officer for the West Michigan-based food distribution and retailing company, according to a statement. She has been in her former role since 2015.
Grocery retailer and distributor SpartanNash Co. appears to be ready to go on the hunt for more acquisitions.