SpartanNash to Acquire Martin’s Super Markets
Strategic Acquisition Expands Corporate Retail Footprint
SpartanNash Company (the “Company”) (Nasdaq: SPTN) 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.”
Advisors
The Food Partners acted as financial advisor and Warner Norcross & Judd LLP acted as legal advisor to SpartanNash Company.
PJ SOLOMON acted as financial advisor and Simpson Thacher & Bartlett LLP acted as legal advisor to Martin’s.
About SpartanNash
SpartanNash (Nasdaq: SPTN) is a Fortune 400 company whose core businesses include distributing grocery products to a diverse
group of independent and chain retailers, its corporate-owned retail stores and U.S. military commissaries and exchanges; as well
as premier fresh produce distribution and fresh food processing. SpartanNash serves customer locations in all 50 states and the
District of Columbia, Europe, Cuba, Puerto Rico, Bahrain, Djibouti and Egypt. SpartanNash currently operates 139 supermarkets,
primarily under the banners of Family Fare Supermarkets, D&W Fresh Market, VG’s Grocery, Dan's Supermarket and Family Fresh
Market. Through its MDV military division, SpartanNash is a leading distributor of grocery products to U.S. military
commissaries.
About Martin’s Supermarkets, Inc.
Martin’s Super Markets, Inc. was founded in 1947 and currently has 21 stores in South Bend, Mishawaka, Granger, Elkhart, Goshen,
Plymouth, Nappanee, Logansport and Warsaw, Indiana, and Niles, Stevensville and St. Joseph, Michigan. The company also operates 17
in-store pharmacies, a pharmacy at Saint Joseph Health System in Mishawaka, a Martin’s Express convenience store in South Bend and
a Side Door Café at Elkhart General Hospital.
Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, and
Section 21E of the Securities Exchange Act of 1934. These include statements preceded by, followed by or that otherwise include the
words “expects,” “strategy,” “opportunities,” and similar expressions. Forward-looking statements relating to expectations about
future results or events are based upon information available to SpartanNash as of today's date, and are not guarantees of the
future performance of the Company, and actual results may vary materially from the results and expectations discussed. Additional
risks and uncertainties are contained in SpartanNash’s most recently filed Annual Report on Form 10-K and other SEC filings.
Investor Contacts:
Mark Shamber
Chief Financial Officer and Executive Vice President
(616) 878-8023
Katie Turner
Partner, ICR
(646) 277-1228
Media Contact:
Meredith Gremel
Vice President Corporate Affairs and Communications
(616) 878-2830
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