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Spartan Stores Completes Acquisition

Grand Rapids, Mich. Spartan Stores announced that it has completed its previously announced acquisition of 17 supermarkets and 15 pharmacies from VG’s Food Center and VG’s Pharmacy, a privately held Fenton, Mich.-based retail grocery operator.

Spartan said it believes the transaction will increase its annual retail-segment sales by approximately $300 million, with annual consolidated sales increasing approximately $150 million, as VG’s is an existing distribution customer. The acquisition is expected to be slightly dilutive to net earnings in the fiscal 2009 fourth quarter, but accretive during fiscal year 2010.

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