SpartanNash Picks Up Three C-stores
BYRON CENTER, Mich. — Food solutions company SpartanNash Co. entered into an asset purchase agreement with Markham Enterprises, Markham Oil and its affiliates to acquire all three locations of the mid-Michigan-based convenience store chain and fuel distributor.
Following the closing of the transaction, SpartanNash plans to keep on board Markham Enterprises' 42 team members.
"Markham Enterprises fits well in our current retail portfolio, as we look to expand our fuel center and convenience store footprint," said SpartanNash Executive Vice President and Chief Strategy and Information Officer Masiar Tayebi. "We are in the process of refreshing many of our existing fuel centers, so this acquisition is another exciting milestone in our investment in this part of our business — and in our strategic growth plans overall. We will continue to leverage insights from our fuel centers and convenience stores to continuously innovate our products and operations across our wholesale business, unlocking new customer potential."
This deal follows SpartanNash's acquisition of Fresh Encounter Inc., a 49-store supermarket chain serving Ohio, Indiana and Kentucky, earlier this month. The transaction not only greatly enhanced the company's retail footprint but also expanded its employment rolls with the addition of 2,500 team members who carried over after the change in ownership.
"Our team is impressed with SpartanNash's business model and the importance they place on their People First culture," said Markham President and CEO Denise Markham. "We are excited for the ways SpartanNash will expand this business and continue to serve the Perry, Howell and Lansing communities — and our associates."
The Markham transaction is expected to close in December, subject to customary conditions. Terms of the deal were not disclosed. NRC Realty & Capital Advisors LLC advised Markham on the deal.
SpartanNash operates two complementary business segments: food wholesale and grocery retail. Its global supply chain network serves wholesale customers that include independent and chain grocers, national retail brands, e-commerce platforms and U.S. military commissaries and exchanges. The company currently operates 147 brick-and-mortar grocery stores, primarily under the banners of Family Fare, Martin's Super Markets and D&W Fresh Market, and employs 17,000 associates across its various business functions.