C&S to Acquire SpartanNash in Major Grocery Merger

KEENE, N.H. and GRAND RAPIDS, Mich., June 23, 2025 – C&S Wholesale Grocers and SpartanNash have announced a definitive merger agreement in which C&S will acquire SpartanNash for $26.90 per share in cash. The total value of the transaction is projected at $1.77 billion, which includes assumed net debt.

The acquisition was approved unanimously by the boards of directors for both firms. The offer represents a 52.5% premium over SpartanNash’s closing stock price of $17.64 on June 20, 2025, and a 42.0% premium compared to its 30-day average price as of that date.

SpartanNash will continue to pay its quarterly cash dividend of $0.22 per share on June 30, 2025, to shareholders on record as of June 13, 2025.

Eric Winn, CEO of C&S, expressed enthusiasm about the merger’s potential. “This is an exciting opportunity for our team members, partners, and notably, our customers,” he said. “C&S and SpartanNash share many of the same values, including a strong emphasis on customers, teamwork, and our communities.”

Winn added that the merger will enhance their capabilities in the distribution market and better serve communities across the nation. “Together, we are uniting some of the most advanced capabilities to support customer stores in a competitive environment,” he stated.

Tony Sarsam, President and CEO of SpartanNash, emphasized the benefits for their workforce and customers. “This transaction creates the scale and purchasing power needed for independent retailers to compete effectively with larger chains,” he said. “Neighborhood grocers are essential pillars of our communities that we want to preserve and strengthen.”

The merger is expected to close in late 2025, pending shareholder and regulatory approvals. C&S has secured financing commitments for the transaction, while Wells Fargo will provide debt financing.

Solomon Partners will serve as the financial advisor to C&S, and Gibson, Dunn & Crutcher LLP will provide legal advice. BofA Securities Inc. is advising SpartanNash, with legal support from Cleary Gottlieb Steen & Hamilton LLP.

Founded in 1918, C&S is a leader in supply chain solutions, serving over 7,500 customers nationwide, including supermarkets and military bases. SpartanNash operates nearly 200 grocery stores and serves a variety of clients, including military commissaries.