SpartanNash Invests $25.8 Million Following Amazon Supply Deal
GRAND RAPIDS, MI - When we first heard of SpartanNash issuing an official stock warrant to an Amazon.com affiliate last week, rumors were already circling that this may be part of an even larger deal between the two. Surprisingly soon afterward, SpartanNash has already announced its next move, revealing an investment of $25.8 million to finalize a seven-year distribution center (DC) lease agreement.
According to news source BISNOW, SpartanNash’s subsidiary Nash Finch Co. closed the agreement with the owner of the building, Provender Partners. The DC offers significant freezer, refrigerated, and ambient storage space in a central market for food distribution.
Because the lease was signed for seven years, the same length of time warranted to the e-commerce company for its purchase of shares, the industry has reason to believe that this DC will play a large role in the partnership.
With this first implementation of the SpartanNash/Amazon partnership taking place in such a key location, it’s difficult to say what all the two might have planned for the facility. However, we at ANUK think it’s safe to say that some big things are in store.
As more news surrounding the dynamic partnership comes to light, we’ll be here to keep you up to date on the latest.