FINANCE

Spartan Stores and Nash Finch Co. to merge

BY Marianne Wilson

Grand Rapids, Mich. — Spartan Stores and Nash Finch Company on Monday announced that they have entered into a definitive merger agreement under which Spartan Stores and Nash Finch will combine in an all-stock merger valued at approximately $1.3 billion, including existing net debt at each company.

Nash Finch, which had revenues of about $4.8 billion last year, will become a subsidiary of Spartan Stores, which had revenues of $2.6 billion.

“This transformational transaction provides a unique opportunity to bring together Spartan Stores’ grocery distribution and retail operations in Michigan, Indiana and Ohio with Nash Finch’s leading position in grocery distribution to military commissaries and exchanges and its complementary wholesale grocery network throughout the U.S.," stated Dennis Eidson, Spartan Stores president and CEO. "By combining our resources, expertise and talent, we will become a stronger and more efficient organization with an enhanced ability to leverage our size, geographic reach and hybrid business model to better compete in the evolving grocery industry.”

Together, Spartan Stores and Nash Finch will have 22 distribution centers covering 37 states, 177 retail stores and will be a leading distributor to military commissaries and exchanges in the United States.

Eidson will serve as president and CEO of the combined company, while Alec Covington, presently president and CEO of Nash Finch, will remain with the combined organization in an advisory role to help ensure a smooth transition.

The combined company, which will retain a presence in both Minneapolis and Grand Rapids, Mich., will include members of each company’s management teams and employee bases.

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T.Gorski says:
Jul-23-2013 09:47 am

Great initiative
Well, this is something really appreciable. The combined efforts of the two leading organizations like Nash Finch and Spartan Sports are surely going to offer much enhanced services, which will, in turn, benefit the industry, altogether. Tomasz Gorski from www.unitedfinances.com/

T.Gorski says:
Jul-23-2013 09:47 am

Well, this is something really appreciable. The combined efforts of the two leading organizations like Nash Finch and Spartan Sports are surely going to offer much enhanced services, which will, in turn, benefit the industry, altogether. Tomasz Gorski from www.unitedfinances.com/

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REAL ESTATE

Art Van Furniture expanding in Chicago area

BY Marianne Wilson

Warren, Mich. — Art Van Furniture has opened its first Chicagoland store, in Oakland Park, Ill. The 47,000-sq.-ft. store is also the 53-year-old retailer’s first location out of its home state, Michigan, where it operates 36 stores.

Art Van Furniture will open five more Chicagoland retail stores in the coming months.

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OPERATIONS

NPD: U.S. Hispanics more likely to purchase groceries at c-stores

BY Marianne Wilson

Houston — U.S. Hispanics are more likely to purchase grocery foods, dairy, and bread from convenience stores (c-stores) than non-Hispanics, reports the NPD Group, leading global information company. Spanish-dominant Hispanics are more likely to make grocery item purchases at c-stores than other Hispanics, according to the NPD report entitled The C-Store Hispanic Shopper, which examines the typical convenience store shopping behavior of Hispanics by level of acculturation and how it compares to non-Hispanics.

On average, U.S. Hispanics make almost two more visits a month than non-Hispanics to major oil chain convenience stores, and nearly one more visit over a 30-day period to traditional c-stores than non-Hispanics, finds NPD’s convenience store research. For some Hispanics, c-stores supplement or substitute grocery stores.

“As one of the fastest growing U.S. population groups, Hispanics are an important segment for the c-store channel,” said David Portalatin, NPD’s c-store industry analyst. “As this report reveals, having a good range of grocery like items and other staples may increase Hispanic traffic, and promoting fresh foods considered to be more homemade or cooked should resonate well among Hispanics.”

In addition to groceries, over two thirds of Hispanics consider having fresh food available at c-stores to be very/somewhat important. Fresh foods are more likely to be purchased by Hispanics for lunch or breakfast and hot foods are preferred, finds NPD. Sandwiches/wraps are least likely to be purchased by Hispanics.

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