WFCF Leads $1B Facility for SpartanNash
Wells Fargo Capital Finance announced that it served as lead arranger in a $1 billion credit facility for SpartanNash that will be used for working capital and general corporate purposes including the recent completion of the Spartan Stores and Nash Finch Company merger.
“We are pleased to have provided this financing to SpartanNash, one of the largest grocery distributors in the U.S.,” states James Dore, president of the commercial and retail finance group at Wells Fargo Capital Finance. “This is an important relationship to us, and we look forward to working closely with SpartanNash as they continue to grow.”
“Wells Fargo has been an important part of our success, bringing us the tools and solutions to help us meet our financial needs,” states David M. Staples, executive VP and CFO of SpartanNash. “As we continue to grow our business, we will look to such relationships as Wells Fargo to help us navigate through the evolving grocery industry landscape.”
SpartanNash (SPTN) is a Fortune 500 company and the largest food distributor serving military commissaries and exchanges in the U.S., in terms of revenue.