SpartanNash (NASDAQ: SPTN) today announced that it has completed the previously announced acquisition of certain assets of Caito Foods Service ("Caito") and Blue Ribbon Transport ("BRT"). Under the terms of the agreement, SpartanNash acquired Caito's produce distribution business, fresh cut fruits and vegetables business and the company's newly constructed Fresh Kitchen facility which is designed to process and package fresh-prepared foods, as well as the logistics business of BRT.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170109005464/en/
Commenting on the transaction, SpartanNash CEO and Chairman of the Board Dennis Eidson said, "We are very pleased to complete the transaction with Caito Foods and BRT. Caito is a premier distributor with best-in-class food processing facilities, including its new Fresh Kitchen. Caito's service area also is complementary to our current distribution footprint, and we look forward to serving customers in new areas in addition to enhancing our offerings to existing customers. This acquisition further strengthens our platform and enhances our ability to help our customers serve their consumers, benefiting our associates and the communities we serve. We thank our Caito, BRT and SpartanNash associates, customers and suppliers for their support in completing this significant achievement. We look forward to leveraging our new platform with its broader customer base and geographic reach to create significant long-term value for our shareholders."
This communication contains forward-looking statements such as "opportunities" and "look forward." These statements are based on estimates and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These risks and uncertainties include, but are not limited to, adverse conditions in the U.S. economy; the effects of competition in the markets in which we operate; material changes in the food industry; disruption of key suppliers' provisioning of products or services; changes in the regulatory environment in which we operate, and other factors. This section is intended to provide meaningful cautionary statements for purposes of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. This should not be construed as a complete list of all of the facts and conditions that could adversely affect the Company's results of operations, financial condition, or liquidity. SpartanNash undertakes no obligation to update or revise its forward-looking statements to reflect developments that occur or information obtained after the date of this communication.
SpartanNash (Nasdaq: SPTN) is a Fortune 400 company whose core businesses include distributing grocery products to independent grocery retailers, national accounts, its corporate-owned retail stores and U.S. military commissaries. SpartanNash serves customer locations in 47 states and the District of Columbia, Europe, Cuba, Puerto Rico, Bahrain and Egypt. SpartanNash currently operates 157 supermarkets, primarily under the banners of Family Fare Supermarkets, Family Fresh Market, D&W Fresh Market and SunMart. Through its MDV military division, SpartanNash is the leading distributor of grocery products to military commissaries in the United States.
About Caito Foods Service
Caito Foods Service is a leading supplier of fresh fruits and vegetables, fresh-prepared foods, and fresh floral products to grocery retailers and foodservice distributors in 22 states from its distribution centers in Indiana, Ohio and Florida. Through its Blue Ribbon Transport operations, Caito offers internal distribution and logistics services for its customers and for other companies throughout the United States. Caito Foods was founded in 1965 by Philip J. Caito, IV, and his brother, Joseph A. Caito. Together, the brothers developed a dedicated team of managers and leaders and built a company culture centered on family values, success for their associates, and world-class service for their customers.
Chris Meyers, 616-878-8023
EVP, Chief Financial Officer
Meredith Gremel, 616-878-2830
Vice President, Corporate Affairs & Communications