Merger (Tables)

12 Months Ended

Jan. 03, 2015

Business Acquisitions Consideration Transferred

Consideration paid for all of the Nash-Finch outstanding shares consisted of the following:

(In thousands, except share price)
Spartan Stores common shares issued and deferred		16,119
Trading price	$	23.55
Fair value of shares issued		379,600
Cash paid for fractional shares		14
	$	379,614

Fair Values of Assets Acquired and Liabilities Assumed

These adjustments are summarized in the table presented below. The accompanying consolidated balance sheet as of December 28, 2013 has been retrospectively adjusted to reflect these adjustments made as of November 19, 2013 as required by the accounting guidance for business combinations.

(In thousands)	Initial Valuation		2014 Adjustments to Fair Value			Final Valuation
Current assets	$	790,296	$	(2,866	)	$	787,430
Property and equipment		369,495	(22,995		)	346,500
Goodwill		43,584	(6,962		)	36,622
Intangible assets		10,750	17,800			28,550
Other		38,160	-			38,160
Total assets acquired		1,252,285	(15,023		)	1,237,262
Current liabilities		353,484	(11,263		)	342,221
Other long-term liabilities		81,047	(4,516		)	76,531
Long-term debt and capital lease obligations		438,140	756			438,896
Total liabilities assumed		872,671	(15,023		)	857,648
Net assets acquired	$	379,614	$	-		$	379,614

Intangible Assets Acquired

Intangible assets acquired were preliminarily valued as follows:

(In thousands)	Intangible Assets		Useful Life
Trade names	$	6,700		Indefinite
Customer lists		5,100		7 years
Customer relationships		12,100		20 years
Favorable leases		4,650		7 to 22 years
	$	28,550

Summary of Results of Operations

The following table provides net sales and results of operations from the acquired Nash-Finch Company included in the consolidated statements of earnings since November 19, 2013:

(In thousands)	Year Ended January 5, 2015		Period Ended December 28, 2013
Net sales	$	5,248,617	$	563,185
Net earnings		24,731		769

Pro Forma Effect on Operating Results

This pro forma information is not necessarily indicative of the results that would have been obtained if the acquisition had occurred at the beginning of the period presented or that may be obtained in the future.


(In thousands)	Period Ended December 28, 2013 (39 weeks)		Year Ended March 30, 2013 (52 weeks)
Net sales	$	5,896,555	$	7,428,957
Net earnings (loss)		24,073		(73,340	)