SpartanNash Company (the "Company") (Nasdaq: SPTN) today announced that its Board of Directors has authorized the repurchase of up to $50 million of the Company's common stock from time to time on the open market or in privately negotiated transactions.
The new program will supplement the Company's previous $50 million repurchase program. The new program will expire on November 15, 2022.
The timing and the amount of any repurchases of common stock will be determined by SpartanNash based on its evaluation of market conditions and other factors. Repurchases of common stock may also be made under a Rule 10b5-1 plan, which would permit common stock to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The repurchase program may be suspended or discontinued at any time.
SpartanNash (Nasdaq: SPTN) is a Fortune 350 company whose core businesses include distributing grocery products to independent grocery retailers, select national accounts, its corporate owned retail stores and U.S. military commissaries and exchanges. SpartanNash serves customer locations in 47 states and the District of Columbia, Europe, Cuba, Puerto Rico, Bahrain and Egypt. As of today, SpartanNash currently operates 145 supermarkets, primarily under the banners of Family Fare Supermarkets, VG's Food and Pharmacy, D&W Fresh Market, Sun Mart, and Family Fresh Market. Through its MDV military division, SpartanNash is a leading distributor of grocery products to U.S. military commissaries.
Chief Financial Officer and Executive Vice President
Vice President Corporate Affairs and Communications