Spartan Stores, Inc. (Nasdaq:SPTN), a leading regional grocery distributor and retailer, announced today it has entered into a distribution agreement with Chief Super Market, Inc. (“Chief”), under which Spartan Stores will be its primary wholesale grocery supplier.
Chief operates 12 stores in Northwest and West Central Ohio under the Chief and Rays banners. Spartan Stores will assume distribution to all of Chief’s banners for grocery, dairy, frozen, bakery and other products in March 2013.
“We are pleased to welcome Chief to our distribution network of independent grocers,” stated Dennis Eidson, Spartan’s President and Chief Executive Officer. “Chief is known for having strong grocery selections and well-merchandised stores and we look forward to supporting their continued success with our broad selection of private brand and national brand products, as well as value-added services. We are also very excited about our expansion into Ohio as securing new business in contiguous states is one of our key strategic business growth initiatives.”
Stephanie Skylar, Chief’s President and Chief Executive Officer, said, “We are committed to delighting our customers with great food and experiences, and believe that our new partnership with Spartan will help us achieve our mission as we offer our customers superior value and service.”
About Spartan Stores
Grand Rapids, Michigan-based Spartan Stores, Inc. (Nasdaq:SPTN) is the nation's tenth largest grocery distributor with 1.4 million square feet of warehouse, distribution and office space located in Grand Rapids, Michigan. The Company distributes more than 40,000 private and national brand products to approximately 375 independent grocery locations in Michigan, Indiana and Ohio, and to 100 corporate owned stores located in Michigan, including Family Fare Supermarkets, Glen's Markets, D&W Fresh Markets, VG's Food and Pharmacy, and Valu Land.
This press release contains forward-looking statements. Forward-looking statements are identifiable by words or phrases such as "initiatives", or that an event or trend "will" occur or "continue." These forward-looking statements are subject to a number of factors that could cause actual results to differ materially. Our ability to successfully realize growth opportunities; expand our customer base; successfully respond to the weak economic environment and changing consumer behavior; anticipate and successfully respond to openings of competitors' stores; achieve expected sales, cash flows, operating efficiencies and earnings; implement plans, programs and strategies; reduce debt; and, continue to pay dividends and repurchase shares is not certain and depends on many factors, not all of which are in our control. Additional information about the risk factors to which Spartan Stores is exposed and other factors that may adversely affect these forward-looking statements is contained in Spartan Stores' reports and filings with the Securities and Exchange Commission. Other risk factors exist and new risk factors may emerge at any time. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictions of future results. Spartan Stores undertakes no obligation to update or revise any forward-looking statements to reflect developments or information obtained after the date of this press release.