Subsequent Event - Acquisition

6 Months Ended

Jun. 16, 2012

Subsequent Events [Text Block]

Note 14 – Subsequent Event – Acquisition

                On June 25, 2012, U Save Foods, Inc., a Nash Finch wholly-owned subsidiary, completed an asset purchase of NF Foods, LLC (DBA No Frills Supermarkets or “No Frills”). The Company acquired certain assets and liabilities relating to eighteen retail supermarkets, fourteen of which are located in Nebraska, primarily in the Greater Omaha market; and the other four are located in western Iowa.  No Frills was a long time customer of Nash Finch.

The aggregate purchase price paid was approximately $47.5 million, and is subject to customary post-closing adjustments based upon changes in the working capital of the purchased businesses.  A final purchase price will be determined within ninety days after the closing date.

The eighteen retail grocery stores represented approximately $230 million in annual retail sales for the NF Foods, LLC fiscal year ended December 31, 2011.

The acquisition was funded by the Company’s existing asset-backed credit agreement.