Spartan Stores Inc has entered into a purchase agreement to acquire 20 retail grocery stores, two fuel centers, and three convenience stores from G&R
July 1, 2007
Spartan Stores Inc has entered into a purchase agreement to acquire 20 retail grocery stores, two fuel centers, and three convenience stores from G&R Felpausch Co, a privately held Hastings MI-based retail grocery operator and Spartan distribution customer. Completion of the transaction is subject to certain conditions including conclusion of due diligence.
The company expects the transaction to close late in its fiscal 2008 first quarter. Upon completion, the transaction will increase annual retail segment sales by approximately $200 million, but annual consolidated sales will grow by about $100 million since Felpausch is a distribution customer. Spartan's first-year gains will be more than offset by transition expenditures of around $5.0 million to $6.0 million.
Voice your opinion!
To join the conversation, and become an exclusive member of FleetOwner, create an account today!
“Temperature-controlled logistics is a varied and fulfilling career choice for people who are solutions-focused and embrace innovation,” association’s president and CEO says.
Commercial Meat Company in Pico Rivera, California, joins Georgia-based foodservice distributor cooperative, which is comprised of more than 475 companies.
The company’s Garfield location now is its first certified customs-bonded cold storage warehouse in Washington, helping customers navigate the complexity of global trade.
