Spartan Completes D&W Acquisition
GRAND RAPIDS, Mich. -- It's official: Spartan Stores here yesterday completed its acquisition of D&W Food Centers, Inc.--a fixture in the west Michigan market since 1943--and now assumes operations of 16 D&W stores in west Michigan.
As previously announced, the transaction is expected to increase Spartan's retail segment sales by approximately $200 million annually and, excluding unusual charges, be accretive to earnings within the first 12 months.
In a statement Spartan Stores' chairman, president and chief executive, Craig C. Sturken, said: "This transaction significantly strengthens our retail market position and competitive stance as the leading independent traditional retail grocery operator in our markets. It will allow us to further enhance our consumer product and service offerings in existing markets as well as areas that we do not currently serve, and gives us significant opportunities to improve retail sales growth and operating efficiencies."
Doug Blease, president and c.e.o. of D&W Food Centers noted: "We are confident that Spartan Stores, along with our D&W associates, will work collaboratively to build an even stronger conventional retail grocery offering for consumers in our markets."
Spartan Stores, the nation's tenth-largest grocery distributor, with warehouse facilities in Grand Rapids and Plymouth, Mich., distributes more than 40,000 private label and national brand products to more than 350 independent grocery stores in Michigan, Indiana, and Ohio. Spartan Stores also owns and operates 70 retail supermarkets and 19 deep-discount food and drug stores in Michigan and Ohio, including Family Fare Supermarkets, Glen's Markets, D&W Fresh Markets, and The Pharm.
As previously announced, the transaction is expected to increase Spartan's retail segment sales by approximately $200 million annually and, excluding unusual charges, be accretive to earnings within the first 12 months.
In a statement Spartan Stores' chairman, president and chief executive, Craig C. Sturken, said: "This transaction significantly strengthens our retail market position and competitive stance as the leading independent traditional retail grocery operator in our markets. It will allow us to further enhance our consumer product and service offerings in existing markets as well as areas that we do not currently serve, and gives us significant opportunities to improve retail sales growth and operating efficiencies."
Doug Blease, president and c.e.o. of D&W Food Centers noted: "We are confident that Spartan Stores, along with our D&W associates, will work collaboratively to build an even stronger conventional retail grocery offering for consumers in our markets."
Spartan Stores, the nation's tenth-largest grocery distributor, with warehouse facilities in Grand Rapids and Plymouth, Mich., distributes more than 40,000 private label and national brand products to more than 350 independent grocery stores in Michigan, Indiana, and Ohio. Spartan Stores also owns and operates 70 retail supermarkets and 19 deep-discount food and drug stores in Michigan and Ohio, including Family Fare Supermarkets, Glen's Markets, D&W Fresh Markets, and The Pharm.