SpartanNash surges on $1.77 billion buyout deal with C&S Wholesale Grocers

Shares of U.S. food distributor SpartanNash Co SPTN.O jump about 49% to $26.30 premarket

C&S Wholesale Grocers agrees to buy SPTN for $26.90 per share, in a deal valuing the food distributor at $1.77 billion, companies say

Offer price represents a 52.5% premium to SPTN's last close on Friday

Combined company will operate about 60 distribution centers in the U.S. with access to over 10,000 independent retailers, according to the companies

Deal is expected to close in late 2025, subject to regulatory approvals

As of last close, SpartanNash stock down about 4% YTD