SpartanNash Boost Retail Footprint with Markham Enterprises Buy
SpartanNash is expanding its retail portfolio as the company entered into an asset purchase agreement with Markham Enterprises, Markham Oil and its affiliates, a three-store chain of convenience stores and fuel distributor in mid-Michigan.
Following the closing of this transaction in early December, SpartanNash will continue employment of 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 Masiar Tayebi, executive vice president and chief strategy and information officer for SpartanNash. "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."
SpartanNash said the transaction is expected to close in December, subject to customary closing conditions. Terms of the deal were not disclosed.
"Our team is impressed with SpartanNash's business model and the importance they place on their People First culture," said Denise Markham, president and CEO of 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 acquisition of Markham Enterprises follows SpartanNash’s acquisition of Fresh Encounter Inc., a 49-store supermarket chain with stores in Ohio, Indiana, and Kentucky.
Owned by third-generation grocers Michael Needler Jr. and Julie Anderson, FEI has been a customer of SpartanNash for 58 years. The acquisition expands SpartanNash’s retail footprint by 33% and is the company’s second retail acquisition in 2024 following the addition of Metcalfe’s Market in April.
The transaction is expected to close in late November, subject to customary closing conditions and terms of the FEI deal were not disclosed.