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GRAND RAPIDS, Mich. -- Spartan Stores, Inc., here has completed a previously announced acquisition of 20 grocery stores, two fuel centers and three convenience stores from G&R Felpausch Co.
Spartan said the purchase of its existing, Hastings, Mich.-based distribution customer is expected to increase its annual retail segment sales by approximately $200 million. Consolidated sales are expected to increase by approximately $100 million, the company said. The acquisition is expected to be accretive to net earnings during the second year of operation.
The stores provide "significant long-term store performance improvement potential and provide a strong complement to our existing geographic market foot print," Craig Sturken, Spartan's chairman, president, and c.e.o., said. "These additional stores also solidify our leading market share position in west Michigan, while expanding our market presence in central Michigan."
With warehouse facilities in Grand Rapids and Plymouth, Mich., Spartan Stores distributes more than 40,000 private-label and national brand products to nearly 400 independent grocery stores in Michigan, Indiana and Ohio.
Spartan Stores also owns and operates 88 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, Felpausch Food Centers, and The Pharm.