Food solutions company SpartanNash (the “Company”) (NASDAQ:SPTN) today issued the following statement commenting on the press release issued by Macellum Advisors GP, LLC and Ancora Holdings Group, LLC (“Macellum” and “Ancora,” respectively, and together, the “Investor Group”):
The Investor Group’s press release issued today is full of false and misleading statements.
In particular, the Investor Group claims that Doug Hacker, our Chair of the Board, and Tony Sarsam, our CEO, did not respond to their outreach – this is an outright lie. In fact, we did respond, and here is what Mr. Hacker sent directly to Jonathan Duskin, CEO of Macellum, on April 29, 2022:
From: Douglas Hacker
Sent: Friday, April 29, 2022 4:46 PM
To: Jonathan Duskin
Cc: Tony Sarsam; Aaron Goldstein
Subject: Macellum – update call
Thank you for your note. The SpartanNash Board takes its fiduciary responsibilities very seriously. As we have stated publicly, we are open to hearing any ideas – from any source – that would be beneficial to our shareholders.
If you have had conversations with credible parties that would be interested in a transaction, we encourage you to have them reach out to us directly – as would be typical for the situation. I can assure you that the Board will act promptly and appropriately to assess the attractiveness and credibility of any such outreach.
If you have other pertinent details regarding these conversations, please let us know.
Although it is our policy not to comment on market rumors or speculation, we feel it is important to set the record straight. To be clear – since we began engaging with Macellum in 2021, SpartanNash has not received any offers to buy the Company, nor has it been approached directly by any strategic or financial buyer to acquire the Company.
The SpartanNash Board remains open-minded and receptive to constructive ideas, from any source, that will drive shareholder value, and the Board is not opposed to any credible value enhancing idea. In fact, the experience of the Board in past roles shows how we have overseen value creation at other companies through transactions when they were credible and appropriate.
Today’s press release from the Investor Group referencing leaks to the media and their previous claims to have received unsolicited communications from strategic buyers interested in a …