Spartan completes sale of subsidiaries
Jul 1, 2003 12:00 PM
Spartan Stores Inc has completed the previously announced sale of its L&L/Jiroch and J F Walker convenience distribution subsidiaries to Knoxville TN-based The H T Hackney Co. Net proceeds from the transaction have been used to reduce Spartan's outstanding bank borrowings.
Based in Grand Rapids MI, Spartan owns and operates 81 supermarkets and 21 deep-discount drug stores in Michigan and Ohio, including Ashcraft's Markets, Family Fare Supermarkets, Food Town, Glen's Markets, Great Day Food Centers, Prevo's Family Markets, and The Pharm. The company also distributes more than 40,000 private-label and national brand products to more than 330 independent grocery stores.
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