Amazon Agrees to Buy up to 15% of Food Distributor SpartanNash's Stock

Amazon (NASDAQ: AMZN) has agreed to acquire as many as 5.4 million shares of SpartanNash (NASDAQ: SPTN), or 15% of the food distribution leader's total outstanding stock, as the e-commerce giant wades further into the grocery business.

SpartanNash disclosed in a regulatory filing Thursday that as part of a commercial agreement with Amazon, it was issuing warrants to the e-tailer of which more than 1 million would vest immediately, with the rest able to be purchased over the next seven years.

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Source Fool.com