Based in Keene, NH, wholesale grocery products distributor C&S Wholesale Grocers has agreed to acquire SpartanNash in a transaction valued at $1.77 billion, or $26.90 per share of SpartanNash common stock.

The deal received unanimous approval from both companies’ boards.

Michigan-based SpartanNash is a food solutions distributor and retailer that serves a broad range of customers, including national accounts, independent and chain grocers, eCommerce retailers, U.S. military commissaries and exchanges, as well as the company’s own grocery stores, pharmacies and fuel centers with convenience stores. The company distributes grocery and household products, including fresh produce and it’s Our Family private-label brand, to locations across all 50 states, the District of Columbia and internationally in Europe, Cuba, Puerto Rico, Honduras, Iraq, Kuwait, Bahrain, Qatar, Djibouti and Korea.

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SpartanNash also operates nearly 200 supermarkets under the Family Fare, Martin’s Super Markets and D&W Fresh Market banners. Its distribution centers are located in Ohio, Indiana, Virginia, Georgia, North Dakota, Michigan, North Carolina, Nebraska, Florida, Texas, Maryland, South Dakota, Oklahoma and Minnesota.

C&S provided the following rationale for the proposed transaction:

• Expanded Distribution Network: The combined company will operate nearly 60 distribution centers across the U.S., serving approximately 10,000 independent retail locations and over 200 corporate-owned grocery stores.
• Increased Scale and Efficiency: Greater scale is expected to improve supply chain efficiency and reduce delivered costs, enabling better pricing for independent retailers and consumers in a low-margin grocery industry averaging 1.6%.
• Support for Underserved Communities: The combined company will help address food and pharmacy deserts by distributing fresh food and medications to community retailers and operating stores in underserved areas.

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“Together, we are uniting some of the most advanced capabilities and boldest innovations in the distribution market to better serve communities across the nation,” C&S CEO Eric Winn said in a June 23 news release. “At C&S, we have a legacy of braggingly happy customers, and our team members strive every day to take care of our customers’ stores as if they are our own. The combination of our two companies’ capabilities puts our collective customers’ stores and our own retail stores at the center of the plate, supporting their ability to thrive in a highly dynamic and competitive environment. Our customers need us more than ever, and we are building a sustainable platform for our team members to be able to support them long into the future.”