SpartanNash Completes Acquisition of Caito Foods Service and Blue Ribbon Transport
January 09 2017 - 8:45AM
Business Wire
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.
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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.”
Forward-Looking Statements
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.
About SpartanNash
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.
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SpartanNashfinancial inquiries:Chris Meyers, 616-878-8023EVP,
Chief Financial Officerormedia inquiries:Meredith Gremel,
616-878-2830Vice President, Corporate Affairs &
Communications
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