SpartanNash to buy produce distributor Caito

SpartanNash to buy produce distributor Caito

SpartanNash said Friday it has entered into an agreement to purchase produce distributor Caito Foods Service and Caito's Blue Ribbon Transport business in a deal officials said would strengthen Spartan's offering of high-growth items like fresh prepared foods.

Grand Rapids, Mich.-based SpartanNash said it would pay $217.5 million in cash for Caito, while providing potential additional payments of up to $12.4 million if the business achieves certain performance targets.

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