SpartanNash (SPTN) Acquires Metcalfe's Market

Food solutions company SpartanNash (the "Company") (Nasdaq: SPTN) today announced its acquisition of Metcalfe's Market, a three-store grocery chain in Wisconsin. Upon close of the sale, the Madison and Wauwatosa, Wis. locations will be continuing employment for all employees. The Metcalfe's Market storefront, branding and core shopper experience will remain in place.

Founded in 1917 by Henry and Teresa Hess, Metcalfe's Market is a community staple, specializing in premium quality foods, sustainability practices, and an extensive focus on local products featuring Metcalfe's Food Miles program. Former owners Tim and Kevin Metcalfe – the great-grandsons of Metcalfe's Market founders – will join the SpartanNash family of Associates.

"Metcalfe's Market has been a successful family-owned and operated business for four generations, and we are honored that the Metcalfe family is entrusting SpartanNash to build upon their legacy and bring new offerings to its team members and grocery shoppers," said SpartanNash CEO Tony Sarsam. "As a People First company, we welcome Tim, Kevin and the entire Metcalfe's Market team into the SpartanNash family, and we look forward to earning the loyalty of our newest store guests. As a food solutions company, we provide the ingredients for family meals and traditions – just like Metcalfe's Market has for more than 100 years."

Metcalfe's Market will expand SpartanNash's footprint in Wisconsin to seven stores. Shoppers can look forward to the same great products they enjoyed at Metcalfe's Market in addition to a wide assortment of SpartanNash private label offerings, including the Our Family^® portfolio of products. The Company will also offer its enhanced loyalty and rewards program featuring digital coupons and weekly grocery savings.

"We are incredibly grateful for the support of our communities for more than a century, and we are confident that with SpartanNash, guests at Metcalfe's Market will continue to enjoy the same high level of service, quality and variety of products they have come to expect here at Metcalfe's," said Tim Metcalfe, co-owner of Metcalfe's Market. "We are thrilled to join the SpartanNash family, and we can't wait to contribute to their People First culture. SpartanNash has the same commitment to quality and community that Metcalfe's has been known for over the past four generations."

As part of the acquisition, full-time Metcalfe's Market team members will continue to receive a benefits package featuring a variety of medical, vision and dental plans, as well as additional investments in paid time off, wellness perks, tuition reimbursement and more. Those interested in Careers for a Better Life can continue to apply for positions at all three Metcalfe's Market locations at shopmetcalfes.com and will have expanded opportunities across the SpartanNash network as well.

The transaction is expected to be completed in spring 2024, subject to customary closing conditions. Terms of the deal were not disclosed.

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