Grocery store retailer SpartanNash has closed the previously announced acquisition of Martin’s Super Markets, for an undisclosed amount.
Established in 1947, Martin’s currently operates 21 stores in Northern Indiana and Southwest Michigan and employs around 3,500 associates.
The deal, which was announced in November last year, covers all 21 Martin’s supermarkets, eight Fuel Centers, 17 in-store pharmacies, a pharmacy at Saint Joseph Health System in Mishawaka, Indiana, a Martin’s Express convenience store in South Bend, Indiana and a Side Door Café at Elkhart General Hospital.
At the time of the announcement, SpartanNash president and CEO David Staples said: “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.”
Boutique investment banking firm The Food Partners acted as financial advisor while Warner Norcross & Judd acted as legal advisor to SpartanNash on this transaction.
Investment banking company PJ Solomon acted as financial advisor and Simpson Thacher & Bartlett acted as legal advisor to Martin’s.
SpartanNash currently operates 139 supermarkets under Family Fare Supermarkets, D&W Fresh Market, VG’s Grocery, Dan’s Supermarket and Family Fresh Market brands.
The company has a presence in 50 US states and the District of Columbia, Europe, Cuba, Puerto Rico, Bahrain, Djibouti and Egypt.