Spartan completes buyout of Felpausch stores

GRAND RAPIDS, Mich. Spartan Stores today announced that it has completed the previously announced acquisition of 20 retail grocery stores, two fuel centers and three convenience stores from G&R Felpausch, a privately held Hastings, Michigan-based retail grocery operator and current distribution customer. The transaction is expected to increase the company's annual retail ...

Spartan Stores today announced that it has completed the previously announced acquisition of 20 retail grocery stores, two fuel centers and three convenience stores from G&R Felpausch, a privately held Hastings, Michigan-based retail grocery operator and current distribution customer. The transaction is expected to increase the company's annual retail segment sales by approximately $200 million. Consolidated sales are expected to increase by approximately $100 million, as Felpausch is an existing distribution customer. The acquisition is expected to be accretive to net earnings during the second year of operation.

Commenting on the transaction, Spartan Stores' chairman, president and ceo Craig Sturken said, "We are very pleased to complete the acquisition of the Felpausch retail stores, as these stores provide significant long-term store performance improvement potential and provide a strong complement to our existing geographic market foot print. These additional stores also solidify our leading market share position in west Michigan, while expanding our market presence in central Michigan."