SpartanNash Company (the “Company”) SPTN, +4.34% today announced it has reached an agreement to acquire Martin’s Super Markets, Inc. (“Martin’s”), a leading family-owned and operated Midwest independent supermarket chain, in a transaction that will expand its corporate retail footprint into the adjacent markets of northern Indiana and southwestern Michigan.
Founded in 1947 and headquartered in South Bend, Indiana, Martin’s currently operates 21 stores in Northern Indiana and Southwest Michigan with approximately 3,500 employees. For the fiscal year ended July 29, 2018, Martin’s had more than $450 million in net sales.
“We are excited to welcome Martin’s Super Markets to the SpartanNash family,” said David Staples, SpartanNash Company’s President and Chief Executive Officer. “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.”
The transaction is expected to close early in the first quarter of the fiscal year ending December 28, 2019, subject to customary closing conditions.
Rob Bartels, Martin’s President, and grandson of its founders, noted, “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. 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.”