SpartanNash Names Crane as VP, Finance/Food Distribution
SpartanNash has named Greg Crane as vice president, Finance/Food Distribution. Crane will serve as finance business partner to Bennett Morgan, senior vice president and chief merchandising officer, and support the Food Distribution leadership team.
Crane’s role, effective June 6, includes leadership over budgeting, forecasting, monthly results analysis and risk and opportunity assessment activities for the Food Distribution business. Additionally, he will provide thought leadership and financial guidance on both broad strategic initiatives and day-to-day opportunities to improve efficiency and reduce company operating expenses.
Crane, a registered CPA, brings more than 15 years of financial and operational experience with skills in financial management, strategic and financial planning, mergers and acquisitions, capital markets and performance optimization. Most recently, he served as the CFO for GHSP, Inc. Before that, he spent nearly six years at Wolverine World Wide in a variety of financial and leadership positions.
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Growth Potential Seen for At-Home Foods Market
Middle market investment banking firm Capstone Partners sees significant growth potential for established brands in the at-home foods market with the recent recapitalization of Uncle John’s Pride, a family-owned producer of branded premium meats in the consumer food and beverage sector.
Capstone advised Uncle John’s Pride on the transaction and says the deal highlights influential trends in the at-home foods market. Following the pandemic-induced spike in at-home dining and a growing consumer emphasis on health, wellness and convenience, demand for high-quality proteins to prepare at home has climbed.
With a host of branded products under multiple banners — including Bean Brothers, Peppino Foods, Realtree and more — and distribution through both retail and foodservice channels such as Walmart, Publix, and Winn-Dixie, Uncle John’s Pride has positioned itself as a premium brand with a strong foothold in the Southeastern United States, according to Capstone. UJP’s established regional platform, blue-chip customer base, premium product portfolio, and proven acquisition history position them well to capitalize on these favorable industry trends and robust consumer demand, making them an attractive target for investment.
“This transaction allowed the UJP shareholders to monetize their initial investment in the company, with a substantial return, while still maintaining a meaningful equity stake,” said Capstone Managing Director Brian Boyle. “Going forward, the company is forecasting rapid growth fueled by powerful consumer trends towards high-protein diets and increased at-home dining trends.”
Financing was provided by Promise Holdings, a consumer-focused private holding company, and specialty finance firms Star Mountain Capital and Maranon Capital. With the investment, Uncle John’s Pride will have the capital and resources necessary to expand beyond its established regional platform and pursue significant growth via additional private labeling.
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Southern Glazer’s Donates $100K for Humanitarian Aid in Ukraine
Alcohol beverage distributor Southern Glazer’s Wine & Spirits is donating a total of $100,000 across three charitable organizations supporting humanitarian aid in Ukraine. The donation is the result of an employee fundraising campaign, in which Southern Glazer’s matched employee contributions to organizations performing meaningful work to help Ukrainian refugees.
In support of the Ukrainian community, Southern Glazer’s pledged to support World Central Kitchen, United Nations High Commissioner for Refugees and Cooperative for Assistance and Relief Everywhere through its donation match campaign. All individual employee donations were made for humanitarian aid in Ukraine through Southern Glazer’s internal giving platform, VolunCheers Online, in order to qualify for the match.
Based on employee contributions and the company match, Southern Glazer’s will be donating $42,214, $40,127.52 and $17,659 respectively to WCK, UNHCR and CARE with the hope that the funds will help the organizations respond with supplies and resources needed to help those affected by the current crisis.
“Southern Glazer’s stands in support of the Ukrainian people and wfe cannot thank our employees enough for their generous contributions to this campaign,” said CEO Wayne E. Chaplin. “Through our VolunCheers platform, we are able to rally our workforce around providing humanitarian relief for Ukraine and its neighboring countries. We are thankful for the meaningful work these charities are spearheading to ensure families are given the supplies and resources needed.”
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