Family-owned Metcalfe’s Market sells to food wholesaler SpartanNash
Learn how Baker Tilly Capital worked with Metcalfe’s Market, a multi-location Wisconsin based grocer specializing in premium quality foods, to find the right partner to acquire the family owned and operated company grocery stores.
Client need
Founded in 1917 by Henry and Teresa Hess, Metcalfe's Market is a local grocer, specializing in premium quality foods and superior customer service, with an extensive focus on offering local products. Tim and Kevin Metcalfe are the fourth generation to operate the Wisconsin stores (2 in Madison and 1 in Wauwatosa) and longtime Baker Tilly clients. Tim and Kevin knew that there was not a fifth generation of family that wanted to own and operate the stores day to day, so they approached Baker Tilly about selling the business. Given the number of stores and locations, there was a limited number of potential buyers; and specifically, buyers that would continue the Metcalfe’s culture.
Baker Tilly Capital solution
Recognizing the significance of selecting the right partner, Metcalfe’s engaged Baker Tilly Capital, LLC (Baker Tilly Capital) to lead a full sale process. Baker Tilly Capital worked with Tim and Kevin Metcalfe to find the right buyer to carry on the Metcalfe’s brand that has been created by focusing on its customers and employees, providing a large variety of quality products and giving back to the community.
Results
Baker Tilly Capital found SpartanNash, a food wholesaler that also owns grocery stores. SpartanNash shares a similar vision as Metcalfe’s, with a commitment to quality and community and will keep the Metcalfe’s name. Partnering with SpartanNash will allow Tim and Kevin to continue with Metcalfe’s while expanding the SpartanNash footprint in Wisconsin to seven stores.
Tim Metcalfe, co-owner of Metcalfe's MarketWe are incredibly grateful for the support of our communities for more than a century, and we are confident that with SpartanNash, guests at Metcalfe's Market will continue to enjoy the same high level of service, quality and variety of products they have come to expect here at Metcalfe's, We are thrilled to join the SpartanNash family, and we can't wait to contribute to their People First culture. SpartanNash has the same commitment to quality and community that Metcalfe's has been known for over the past four generations.
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Baker Tilly Capital professionals have completed hundreds of middle market transactions for public and private companies in various industries.