SpartanNash Announces Plans to Acquire Martin's Super Markets
GRAND RAPIDS, MI - SpartanNash has announced acquisition plans that will expand its corporate retail footprint into the adjacent markets of northern Indiana and southwestern Michigan. The company has reached an agreement to acquire Martin’s Super Markets—a 21-store chain spread throughout Northern Indiana and Southwest Michigan.
“We are excited to welcome Martin's Super Markets to the SpartanNash family,” said David Staples, SpartanNash President and Chief Executive Officer, in a press release. “Martin's has been a valued independent retail customer since 2005, and we have the greatest respect for the Martin's management team and its commitment to their associates, customers, and the communities they serve. We look forward to working with members of the team to continue to deliver the quality shopping experience and high level of customer service to Martin's customers. Our long-standing relationship has built the foundation for our future success and will enable us to grow our corporate retail business in Indiana and Michigan consistent with our long-term strategic growth strategy. We also believe this investment in our corporate retail business will help us take full advantage of our opportunities to generate value for all SpartanNash stakeholders.”
For the fiscal year ended July 29, 2018, Martin's had more than $450 million in net sales; the chain has 3,500 employees and is currently headquartered in South Bend, Indiana. SpartanNash noted that the acquisition is expected to close early in the first quarter of the fiscal year ending December 28, 2019, and is subject to customary closing conditions.
“We were seeking a partner we could trust with the family's legacy of exceptional customer service, quality products and value; we found that partner in SpartanNash,” said Rob Bartels, Martin's President, and grandson of its founders. “SpartanNash has been a valued and capable partner, and our partnership has grown and strengthened over time. We share similar values, a passion for the business, and cultures based on excellent customer service, stewardship of our brands, and commitment to our communities and teams. We look forward to a robust and dynamic future for the Martin's family.”
AndNowUKnow will continue to report with updates as the transaction proceeds.