Sturken and Spartan Target Farmer Jack for Acquisition
By George Anderson
Meredith Adler, an analyst with Lehman Bros., thinks Spartan Stores will be the next owner of Farmer Jack.
The analyst, who said she expects the deal to be made before the Oct. 14 earnings announcement, estimates Spartan will pay about $50 million for 70 Farmer Jack stores.
Spartan is led by Craig Sturken, the company’s president and chief executive officer. Before joining Spartan, Mr. Sturken served in several executive roles with A&P including
running the company’s Midwest division, which included the Farmer Jack business.
Another top executive at Spartan, Dennis Eidson, was also involved with Farmer Jack. Mr. Eidson was the divisional president and CEO of A&P’s Midwest region from October
2000 to July 2002.
Moderator’s Comment: Is Farmer Jack a good fit for Spartan Stores? What do you expect Spartan, should it acquire
Farmer Jack, to do with the stores? –
George Anderson – Moderator
- Report: Spartan Stores is likely buyer of Farmer Jack; analyst says deal likely before
Oct. 14 – Crain’s Detroit Business