Michigan-based SpartanNash Co. (Nasdaq: SPTN) has announced plans to acquire another Indiana company. Financial terms of the deal for Martin’s Super Markets Inc. were not disclosed, however the acquisition is expected to be complete early in the first quarter.
Martin’s operates 21 stores in northern Indiana and southwest Michigan. The company employs 3,500 people, though it is not known if any jobs will be affected by the acquisition.
David Staples, chief executive officer of SpartanNash, says the company is excited to bring Martin’s into the fold.
"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," Staples said in a news release. "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."
Martin’s Super Markets was founded in 1947. President Rob Bartels, grandson of the company’s founders, says the deal will create a "robust and dynamic future for the Martin’s family."
This is the second acquisition of an Indiana company for SpartanNash in as many years. In January 2017, the company acquired Indianapolis-based Caito Foods Service in a $217 million deal.