'Fortune' names Spartan Stores to most admired list

GRAND RAPIDS, Mich. — Fortune magazine has named supermarket operator Spartan Stores as one of its most admired companies for 2012.

Spartan announced Friday that Fortune had added it to the list of the "World's Most Admired Companies" in the wholesaler: food and grocery category. Spartan owns 96 supermarkets in Michigan and operates a distribution business that serves 375 other stores in Michigan, Ohio and Indiana.

"We are extremely pleased to be recognized as one of the world's most admired companies," Spartan president and CEO Dennis Eidson said. "This achievement reflects the tremendous dedication and efforts of our associates as we strive to provide the consumer with consistent value and a quality shopping experience at our retail stores, as well as provide our distribution customers a differentiated go-to-market strategy and value-added partnership."

Fortune conducted the survey in 2011 among top executives, directors and securities analysts in 58 industries. Companies were selected based on such criteria as financial soundness, long-term investment value, people management, social responsibility, use of assets, quality of management, quality of products and services, and innovation and competitiveness.