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Nash Finch Expands in Minnesota
by Zacks Equity ResearchJune 28, 2012 | Comments : 0 Recommended this article: (0)
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Minneapolis, Minnesota based wholesale food distributor, Nash Finch Company (NAFC - Analyst Report) inaugurated two new Family Fresh Markets in the Wisconsin and Farmington regions in Minnesota. While the company inaugurates a new Family Fresh Markets at 303 South Main Street, River Falls, Wisconsin, today, the other one will be inaugurated tomorrow at 15 Elm Street, Farmington.
There are currently two Family Fresh Markets stores in this region. The stores will offer products like meat, seafood, natural and organic foods at a competitive price.
As a part of the opening ceremony the company will donate cash to the local community Food Banks and also donate books to local schools via Nash Finch’s Feeding Imagination program.
As part of its expansion strategy, in May 2012, the company entered into an agreement to supply food to more than 80 Dollar General Stores, in the Nebraskan region. The company has been strategically moving ahead to acquire major operating units before Walmart steps into the region of Nebraska. As a part of this strategy it acquired ‘Bag n Save’ supermarkets and ‘No Frills’ supermarket in May 2012, which will help it to spread its business in the Nebraska region.
Nash Finch operates corporate-owned grocery stores, located primarily in the Upper Midwest, in the states of Colorado, Iowa, Minnesota, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin. The corporate-owned stores principally operate under the Sun Mart, Econofoods, Avanza, Family Thrift Center, Pick ‘n’ Save, Family Fresh Market, Prairie Market, and Wholesale Food Outlet banners.
Currently, we have a long-term Neutral recommendation on Nash Finch, which carries a Zacks #4 Rank (short term Sell rating).
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