WFCF Arranges $200 Million Credit Facility for Spartan Stores
Wells Fargo Capital Finance, part of Wells Fargo & Company, arranged and agented a $200 million senior secured revolving credit facility to support general working capital and corporate purposes for Spartan Stores, Inc.
Spartan Stores, based in Grand Rapids, MI, owns and operates 97 supermarkets in Michigan under the D&W Fresh Markets, Family Fare Supermarkets, Glen’s Markets, Valu Land and VG’s Food and Pharmacy banners. The company also supplies more than 40,000 private and national brand products to nearly 375 independent grocery locations in Michigan, Indiana and Ohio.
“The Retail Finance team delivered the creativity and flexibility we need to support and grow our business,” said Dave Staples, executive vice president, CFO and treasurer of Spartan Stores. “We look forward to continuing our relationship with Wells Fargo Capital Finance.”
“We are proud to have Spartan’s ongoing support in choosing us to continue acting as its agent,” said Keith Vercauteren, head of the Retail Finance Division at Wells Fargo Capital Finance. “We look forward to working with the senior management team to provide creative solutions to meet the company’s specific needs.”