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In a bold bid to redefine grocery logistics and supply chains across the U.S., C&S Wholesale Grocers announced Monday it will acquire grocery distributor and retailer SpartanNash in a $1.77 billion all-cash transaction, sending shockwaves through the food retail sector.

The blockbuster deal, which includes the assumption of SpartanNash’s net debt, was unanimously approved by both companies’ boards. C&S will pay $26.90 per share, marking a 52.5% premium over SpartanNash’s last closing price of $17.64. Shares of SpartanNash soared nearly 50% on the news, closing Monday at $26.38.

Powerhouse Combination: Distribution Meets Retail Muscle

The proposed merger will unite two major forces in the U.S. grocery supply chain — combining nearly 60 distribution centers and around 200 company-owned retail stores, which together support roughly 10,000 retail locations nationwide.

“Our customers need us more than ever,” said C&S CEO Eric Winn. “This merger is about creating a sustainable platform that supports independent retailers, communities, and team members long into the future.”

Leveling the Playing Field Against Big Box Giants

SpartanNash CEO Tony Sarsam emphasized the transformative potential for small and mid-sized grocers in a landscape increasingly dominated by mega-chains.

“This transaction gives independent retailers the scale, efficiency, and purchasing power to go toe-to-toe with the big box stores,” said Sarsam. “It’s not just about business — it’s about supporting local farmers, boosting economies, and enhancing community health.”

The companies expect the deal to increase supply chain efficiencies, allowing them to lower prices in a low-margin, highly competitive industry.

From Commissaries to Corner Stores: A Coast-to-Coast Footprint

Founded in 1918 and based in Keene, New Hampshire, C&S serves over 7,500 grocery outlets and maintains a vast footprint throughout the Midwest, South, and Northeast.

SpartanNash, headquartered in Grand Rapids, Michigan, operates nearly 200 stores under familiar banners such as Family Fare and Martin’s Super Markets. It also plays a key role in the military supply chain, distributing goods to commissaries and exchanges around the world.

Legal and Financial Titans Back the Transaction

The deal was forged with heavyweight legal and financial teams on both sides:

• Gibson Dunn & Crutcher LLP is lead legal counsel to C&S, with Solomon Partners as exclusive financial adviser.

• Sullivan & Cromwell LLP advised on C&S's debt financing, with Wells Fargo providing the committed funding.

• Cleary Gottlieb Steen & Hamilton LLP advised SpartanNash, led by partners Kim Spoerri and Paul Shim, and associate Matt Kelleher.

• BofA Securities Inc. served as exclusive financial adviser to SpartanNash.

Gibson Dunn’s team includes partners George Sampas and Evan M. D’Amico, and counsel Soren Kreider. Details on Sullivan & Cromwell’s deal team were not immediately disclosed.