SpartanNash Company
In Brief
Macellum Advisors and Ancora Holdings Group, who beneficially own approximately 4.5% of the outstanding common shares of SpartanNash Company (NYSE: SPTN), have nominated three highly qualified and independent candidates for election to the Company’s Board of Directors at the 2022 Annual Meeting of Shareholders.
Our analysis and engagement to date lead us to believe that SpartanNash’s leadership is wed to a flawed corporate structure and has failed to implement basic operating initiatives while leaving $1 billion of owned real estate sitting idle on the balance sheet. We believe these missteps have resulted in poor operating results and sustained share price underperformance for too long. Moreover, we believe the Board’s failure to effectively develop succession plans has resulted in constant chaos in the C-suite, with four changes to the Company’s Chief Executive Officer role in five years yet no clear strategy for value creation.
Activist Materials
- June 7, 2022: Macellum and Ancora Issue Letter Regarding the Need to Elect Directors with Additive Expertise in Operations, Supply Chain and Strategic Planning to SpartanNash’s Board
- May 31, 2022: ISS Recommends SpartanNash Shareholders Vote for Boardroom Change on Macellum and Ancora’s BLUE Proxy Card
- May 17, 2022: Macellum and Ancora Issue Supplemental Presentation Regarding SpartanNash
- May 10, 2022: Macellum and Ancora Release Presentation Regarding the Urgent Need for Boardroom Change at SpartanNash
- May 2, 2022: Macellum and Ancora Question SpartanNash’s Apparent Reluctance to Explore Reported Acquirer Interest
- April 19, 2022: Macellum Proxy Statement
- April 19, 2022: Macellum’s Letter to Shareholders
Activist Press
ISS Recommends SpartanNash Shareholders Vote for Boardroom Change on Macellum and Ancora’s BLUE Proxy Card
Macellum Advisors GP, LLC and Ancora Holdings Group, LLC (together with their affiliates, the “Investor Group” or “we”), who beneficially own approximately…
Activists in SpartanNash proxy fight get mixed endorsements from advisers
The activists trying to get board seats on food distributor SpartanNash's (NASDAQ:SPTN) board received mixed endorsements from two of the most influential…
SpartanNash: Activist Pressure/Potential Buyout
SpartanNash (SPTN) grocery retailer/distributor has been under pressure from the activist (Macellum) in recent months. The activist is pushing for strategic…
Macellum and Ancora Issue Supplemental Presentation Regarding SpartanNash
NEW YORK--(BUSINESS WIRE)--Macellum Advisors GP, LLC and Ancora Holdings Group, LLC (together with their affiliates, the “Investor Group” or “we”), who…
SpartanNash, Activist Investors Clash as Claims of Potential Buyers Surface
In response to an investor group’s claims “that there are parties interested in acquiring all or part of SpartanNash,” the Grand Rapids, Mich.-based retailer…
Macellum and Ancora File Definitive Proxy Statement and Send Letter to SpartanNash Shareholders
Macellum Advisors GP, LLC and Ancora Holdings Group, LLC (together with their affiliates, the “Investor Group” or “we”), which beneficially own approximately…
SpartanNash Gears Up for Contested Board Vote
SpartanNash followed up on a recent communication to shareholders with a new letter detailing the qualifications of its recommended board members. The letter…
Activists unpack SpartanNash
Activist investors Macellum Capital Management and Ancora Holdings Group will file a definitive proxy statement to shake up grocery chain SpartanNash's…
SpartanNash, activist investor group sparring over company’s direction
SpartanNash is pushing back on an attempt by an activist investor group to reshape its board of directors, arguing that the investors are basing their effort…
Activist investor Macellum’s Duskin on fight with SpartanNash
Jonathan Duskin, Macellum Capital Management CEO, joins ‘Closing Bell: Overtime’ to discuss its latest fight with SpartanNash, which he says has dramatically…
Macellum and Ancora Nominate Three Highly Qualified and Independent Candidates for Election to SpartanNash’s Board of Directors
NEW YORK--(BUSINESS WIRE)--Macellum Advisors GP, LLC and Ancora Holdings Group, LLC (together with their affiliates, the “Investor Group” or “we”), who…
SpartanNash gains after activists nominate directors, pushes for sale review (update)
iREIT on Alpha helps you find the highest quality REITs. Not only do certain REITs throw off strong yields, they also have exceptional growth potential and a…
Activist investor Macellum’s Duskin on fight with SpartanNash
Jonathan Duskin, Macellum Capital Management CEO, joins ‘Closing Bell: Overtime’ to discuss its latest fight with SpartanNash, which he says has dramatically…
Activists Macellum, Ancora Pursue Board Fight at SpartanNash
Activist investors Macellum Advisors and Ancora Holdings Group are nominating three directors to the board of Amazon.com Inc.-linked food distributer…
Macellum and Ancora Nominate Three Highly Qualified and Independent Candidates for Election to SpartanNash’s Board of Directors
Macellum Advisors GP, LLC and Ancora Holdings Group, LLC (together with their affiliates, the “Investor Group” or “we”), who beneficially own approximately…