C&S Wholesale Grocers to Acquire SpartanNash in a $1.77 Billion Deal

C&S Wholesale Grocers, LLC entered a merger agreement on June 23, 2025, to acquire SpartanNash Company (SPTN) in an all-cash deal valued at $1.77 billion.

Deal Structure:

Under the terms of the agreement, C&S will acquire SpartanNash for a purchase price of $26.90 per share of SpartanNash common stock in cash, representing a premium of 52.49% from the stock’s last close.

Company Profile:

SpartanNash is a food solutions company that distributes and retails grocery products through its wholesale and retail segments, serving independent grocers, military commissaries, and operating nearly 200 grocery stores under various banners like of Family Fare, Martin’s Super Markets, and D&W Fresh Market.

C&S Wholesale Grocers is the largest U.S. wholesale grocery distributor and supply chain solutions provider, founded in 1918. It supplies more than 7,500 independent and chain supermarkets, military bases, and institutions with over 100,000 products, while also operating corporate stores and supporting franchise partners across the Midwest, South, and Northeast.

Deal Details and Timeline:

The combined company will operate nearly 60 complementary distribution centers across the United States, serving approximately 10,000 independent retail locations and more than 200 corporate-owned grocery stores.

The deal is expected to close in late 2025.

C&S has secured the financing for the deal. Wells Fargo has committed to providing the debt financing needed to complete the transaction.

Solomon Partners is acting as the exclusive financial advisor to C&S. Gibson, Dunn & Crutcher is serving as legal counsel to C&S, with Sullivan & Cromwell advising on matters related to debt financing. BofA Securities is serving as the exclusive financial advisor to SpartanNash, and Cleary Gottlieb Steen & Hamilton is acting as its legal counsel.

The deal values SpartanNash at 14.44 times its non-GAAP earnings.

Deal Metrics:

For further exploration of this M&A transaction, please refer to the Deal Metrics page at:

Deal Metrics for the acquisition of SpartanNash Company (SPTN) by C&S Wholesale Grocers, LLC

The Deal Metrics page for each merger or acquisition includes:

• A graphic representation of the merger’s spread history, from announcement to completion or failure.
• A record of every event as the merger progresses, including the HSR period expiration, regulatory approvals, shareholder votes, and more.
• News and SEC filings.
• A record of deal updates.
• And a whole lot more.

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Editor’s Note: Baranjot Kaur contributed to this article