Spartan, Nash Finch HSR Review Period Expires
The Hart-Scott-Rodino (HSR) waiting period for the pending merger of Spartan Stores and Nash Finch has expired with no action by the Federal Trade Commission or the Department of Justice.
The expiration of the HSR review period satisfies one of the conditions necessary for the transaction to close between the Grand Rapids, Mich.-based Spartan Stores and Nash Finch, which announced the pending merger on July 22, 2013 following unanimous approvals of the boards of directors of both companies.
The deal, which is expected to be completed before the end of calendar 2013, is still subject to the remaining regulatory approvals and customary closing conditions, including the shareholder approvals of both companies.
The strategic combination of Spartan Stores and Nash Finch will bring together two companies with complementary operations to create a leader in the grocery wholesale, retail and military commissary and exchange channels.
As the nation's ninth largest grocery distributor with 1.4 million square feet of warehouse, distribution and office space, Spartan Stores distributes more than 40,000 private and national brand products to approximately 390 independent grocery locations in Michigan, Indiana and Ohio, as well as its 102 corporate-owned stores in Michigan, whose banners include Family Fare Supermarkets, Glen's Markets, D&W Fresh Markets, VG's Food and Pharmacy, Forest Hills Foods and Valu Land.
Minneapolis-based Nash Finch's core businesses include distributing food to military commissaries and exchanges and independent grocery retailers located in 37 states, the District of Columbia, Europe, Cuba, Puerto Rico, the Azores, Bahrain and Egypt. The company also owns and operates a base of retail stores, primarily supermarkets under the Family Fresh Market, Econofoods, Family Thrift Center, No Frills, Bag 'n Save, Avanza and Sun Mart banners.