(PRESS RELEASE) GRAND RAPIDS, MICH – Food solutions company SpartanNash (the “Company”) (Nasdaq: SPTN) has announced its acquisition of Fresh Encounter Inc. (“FEI”), a 49-store supermarket chain serving Ohio, Indiana and Kentucky.
Owned by third-generation grocers Michael Needler Jr. and Julie Anderson, FEI has been a food distribution customer of SpartanNash for 58 years. SpartanNash will continue employment for FEI’s 2,500 team members.
“Fresh Encounter has been a successful family-owned and operated business for decades, and we are proud to continue this legacy,” said SpartanNash CEO Tony Sarsam.
“This acquisition is an exciting milestone in our Company’s strategic growth plans. Not only will we welcome 2,500 new Associates to the SpartanNash family, but we will also begin serving shoppers in Kentucky and grow our existing footprint across Ohio and Indiana.”
“Retail is a critical component of our business model and long-term strategic plan, as we meet consumer needs and leverage insights from our stores to continuously innovate our products and operations across our wholesale business.”
The FEI acquisition expands SpartanNash’s retail footprint by 33% and is the Company’s second retail acquisition in 2024, following the addition of Metcalfe’s Market in April.
This acquisition is consistent with SpartanNash’s strategy and will contribute toward the growth and earnings goals shared in the Company’s 2025 long-term plan, Sarsam added.
“We are proud of the business our family has built and look forward to advancing our relationship with SpartanNash,” said FEI CEO Needler.
“As their customer, we have seen firsthand the People First culture at SpartanNash, and we appreciate the career opportunities and growth this will unlock for Fresh Encounter team members.”
FEI operates under the retail store banners Community Markets, Remke Markets, Chief Markets and Needler’s Fresh Market. The transaction is expected to close in late November, subject to customary closing conditions. Terms of the deal were not disclosed.
Solomon Partners is serving as financial advisor, and Holland & Knight LLP is serving as legal advisor to Fresh Encounter. Honigman LLP is acting as legal advisor to SpartanNash.
