BYRON CENTER — Food retailer and distributor SpartanNash Co. has closed on a deal to purchase the Shop-N-Save Food Center chain of grocery stores.
After announcing last month that it had struck an agreement to purchase the three-store chain with locations in Benzonia, Fremont and Ludington, SpartanNash (Nasdaq: SPTN) formally announced the deal today and its plan to rebrand the three locations as Family Fare stores, one of SpartanNash’s marquee brands.
“Shop-N-Save has been a successful family-owned and operated business for decades, and we are honored that the DeVries family is entrusting SpartanNash to build upon their legacy and bring new offerings to its team members and grocery shoppers in Benzonia, Fremont and Ludington through our Family Fare banner,” SpartanNash President and CEO Tony Sarsam said in a statement.
“Our grocery stores are an important contributor to our business strategy, allowing us to provide a full portfolio of solutions for independent and chain customers that go beyond food distribution,” Sarsam added. “We leverage the insights from our retail stores to continuously innovate our products and operations across our global network.”
By rebranding the three Shop-N-Save stores, SpartanNash now operates 86 Family Fares. The brand was first established in 1962. D&W Fresh Market and Martin’s Super Markets are the two other primary brands among the roughly 150 supermarkets that SpartanNash currently operates.
Company president Bill DeVries founded the Shop-N-Save franchise in 1973, and the store has been a distribution customer of SpartanNash for roughly 25 years. SpartanNash said in a statement that it plans to keep all Shop-N-Save employees on board.
“We are incredibly grateful for the support of our communities these nearly 50 years, and we are confident that with SpartanNash, guests of the new Family Fare stores will continue to enjoy the same high level of service, quality and variety they have become accustomed to at Shop-N-Save,” DeVries said.
The latest deal comes on the heels of an eventful couple of months for SpartanNash, which faced recent pressure from an activist investor group that was attempting to seat three directors on the company’s nine-person board in order to right the ship on what it viewed to be an underperforming business.
Last week, shareholders stymied those efforts by voting to re-elect all nine of SpartanNash’s board nominees.
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