US food distributor Spartan Stores has announced that it has signed a definitive agreement to sell two of its convenience-store distribution units to privately-owned wholesale distributor H T Hackney for US$42m, as well as certain liabilities.
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Spartan’s L&L/Jiroch and J F Walker distribution units generated a total of $720m in sales for the year to 29 March, reported Dow Jones News.
Spartan, which provides food and other items to around 400 independent grocery stores and around 9,500 convenience stores, said the sale would strengthen its financial position as it focuses on its core grocery operations. It expects the deal to be closed in 45 days.
