C&S Wholesale Grocers LLC has announced its decision to merge with SpartanNash Company in a deal valued at approximately $1.77 billion. Under the terms of the agreement, C&S will pay $26.90 per share for SpartanNash’s common stock, reflecting a significant premium of 52.5% over SpartanNash’s recent closing price and to its 30-day volume-weighted average. The merger has received unanimous approval from the boards of directors for both firms.
SpartanNash’s shareholders can expect to receive their scheduled quarterly cash dividend of 22 cents per share, which will be distributed on June 30 to those on record by June 13.
C&S CEO Eric Winn expressed enthusiasm about the merger, noting that both companies share core values, including a commitment to customer service and community engagement. He believes combining their capabilities will enhance customer service and adapt to the competitive distribution market. “We are building a sustainable platform for our team members to support our customers,” he said.
Similarly, SpartanNash President and CEO Tony Sarsam highlighted the positive implications of this merger for both employees and customers. He emphasized the potential for exciting career growth and the importance of supporting independent grocery retailers. “A thriving hometown grocery store supports local farmers, bolsters the local economy, and enhances the overall health and well-being of the community,” he stated, underscoring a commitment to preserving the role of neighborhood grocers throughout the transition.
This merger, which aims to create a more competitive landscape for independent retailers against larger chains, reflects a hopeful future for both companies, promoting efficiency, scale, and sustainable community support.