The ownership of Martin’s Super Markets is changing, again.
C&S Wholesale Grocers and SpartanNash today announced that they have entered into a definitive merger agreement where C&S will acquire SpartanNash for a purchase price of $1.77 billion.
Martin’s was purchased by Grand Rapids-based SpartanNash in 2018. The Transaction has been unanimously approved by the Boards of Directors of both C&S and SpartanNash.
C&S Chief Executive Officer Eric Winn said, “This is an exciting opportunity for our team members, partners and, notably, our customers. C&S and SpartanNash share many of the same values, including a strong emphasis on customers, teamwork and our communities.”
Winn said the merger, “The combination of our two companies’ capabilities puts our collective customers’ stores and our own retail stores at the center of the plate, supporting their ability to thrive in a highly dynamic and competitive environment. Our customers need us more than ever, and we are building a sustainable platform for our team members to be able to support them long into the future.”
SpartanNash President and CEO Tony Sarsam said, “We are energized by the opportunities this combination provides for our Associates and customers. With our organizational values in close alignment, there will be exciting new career opportunities for our people and a continued commitment to a People First culture. For our customers, this transaction creates the necessary scale, efficiency and purchasing power needed to enable independent retailers to compete more effectively with larger big box chains.”
According to a statement from C&S, the combined company will operate almost 60 complementary distribution centers covering the U.S. and will serve nearly 10,000 independent retail locations, with collectively more than 200 corporate-run grocery stores.
The companies also said being able to operate at a larger scale enables a more efficient supply chain as well as an ability to secure the best possible delivered cost of goods and promotional discounts, which are expected to translate to better pricing for community retailers and at the shelf for consumers.
“Profit margins in the grocery industry are very low — averaging only 1.6%1 — and customers and consumers deserve the best value for food and household goods. The stability of the combined organization will allow the combined company and its customers to better compete against various extremely large global grocers in the U.S. food-at-home space, a more than $1 trillion annual industry.”
The Transaction is expected to close in late 2025, subject to certain customary closing conditions, including, among other things, SpartanNash shareholder approval and applicable regulatory approvals. As part of the transaction, C&S said they have obtained a debt financing commitment from Wells Fargo.
About C&S Wholesale Grocers, LLC
C&S Wholesale Grocers, LLC is an industry leader in supply chain solutions and wholesale grocery supply in the United States. Founded in 1918 as a supplier to independent grocery stores, C&S now services customers of all sizes, supplying more than 7,500 independent supermarkets, chain stores, military bases and institutions with over 100,000 different products. C&S also proudly operates and supports corporate grocery stores and services independent franchisees under a chain-style model throughout the Midwest, South and Northeast.
About SpartanNash
SpartanNash has 20,000 employees and 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. On the retail side, SpartanNash operates nearly 200 brick-and-mortar grocery stores, primarily under the banners of Family Fare, Martin’s Super Markets and D&W Fresh Market, in addition to dozens of pharmacies and fuel centers with convenience stores.
