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GRAND RAPIDS, Mich.-- Spartan Stores Inc. has completed its previously announced acquisition of three convenience stores, two fuel centers and 20 retail grocery stores from G&R Felpausch Co., a privately held Hastings, Mich.-based retail grocery operator.
The transaction is expected to increase the company's annual retail segment sales by approximately $200 million. Consolidated sales are expected to increase by about $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, the company announced.
"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 footprint. These additional stores also solidify our leading market share position in west Michigan, while expanding our market presence in central Michigan," Spartan Stores' chairman, president and chief executive officer Craig C. Sturken said, commenting on the transaction.
Grand Rapids, Mich.-based Spartan Stores owns and operates 88 retail supermarkets and 19 deep-discount food and drug stores in Michigan and Ohio, including Family Fare Supermarkets, Glen's Markets, D&W Fresh Markets, Felpausch Food Centers, and The Pharm. The company also distributes more than 40,000 private-label and national-brand products to nearly 400 independent grocery stores in Michigan, Indiana and Ohio.