United Natural Foods, Inc. (NYSE:UNFI) and Oak Street Real Estate Capital, LLC are separately working on bids for SpartanNash Company (NasdaqGS:SPTN), people familiar the matter said on April 26, 2022. United Natural Foods is exploring a bid to buy the entire company, the sources said. Oak Street contacted SpartanNash last month to reiterate its interest in buying real estate from the company worth up to $1 billion, shortly after two activist investors began pushing SpartanNash to explore changes, including putting itself up for sale, the sources added.

There is no certainty of a deal, said the sources, who asked not to be identified in order to discuss the private conversations. Representatives for SpartanNash and United Natural Foods did not respond to requests for comment while Oak Street declined to comment. Last month, activist investors Macellum Management, LP and Ancora Holdings Group, LLC, which previously teamed up to push for changes at Kohl's Corporation (NYSE:KSS) nominated three candidates to SpartanNash's board.

The investors, ho own roughly 4.5% of the company's stock, are pushing for the board to consider a full or partial sale. Representatives for the two hedge funds declined to comment.