Community Corner
'Can't be Good News for Edina': Nash Finch Sold in $312 Million Deal
The Edina-based wholesaler was bought by a Michigan company, which promised to keep operations in Minneapolis.
Edina-based wholesaler Nash Finch Co., a major grocery distributor to military commissaries, has been purchased by food distributor Spartan Stores Inc. in a $312 million all-stock deal
Shares of both companies rose with the announcement and the combined company promised to keep operations in Minneapolis, but that doesn’t mean Edina stands to benefit.
“Can't be good news for Edina,” city manager Scott Neal wrote on Twitter.
Find out what's happening in Edinawith free, real-time updates from Patch.
Nash Finch shares rose $2, or 8 percent, to $27.43 in premarket trading Monday while Spartan Stores shares jumped $1.80, or 8.5 percent, to $23, according to the Associated Press.
Spartan CEO Dennis Eidson, who will take over management of the joint company, said the deal "provides a unique opportunity" to combine the two operations, according to the AP.
Find out what's happening in Edinawith free, real-time updates from Patch.
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