West Michigan companies rank on Fortune 500
Four West Michigan companies are standing among the nation’s Fortune 500.
The 61st-annual Fortune 500 ranking was released this month and recognizes four West Michigan companies among the largest companies that are incorporated and operate in the U.S., based on total revenues: Benton Harbor-based Whirlpool at No. 148; Battle Creek-based Kellogg at No. 210; Kalamazoo-based Stryker at No. 300; and Grand Rapids-based SpartanNash at No. 359.
Sixteen other Michigan companies, listed below, also appear in the Fortune 500 ranking.
SpartanNash merges into ranking
SpartanNash was ranked No. 811 last year and moved up 452 spots to its current spot at No. 359. SpartanNash was formed in late 2013 when Spartan Stores merged with Minneapolis-based Nash Finch Company.
Dennis Eidson, president and CEO at SpartanNash, said the industry is clearly consolidating, and the merger was a strategic decision that has allowed SpartanNash to be in a strong position in the grocery wholesale and retail industry.
“SpartanNash is a ‘better-together’ company, with a vision to be a best-in-class business that feels local, where relationships matter,” Eidson said. “We believe our greatest asset is people, so it was imperative as we moved forward from the merger that we blended our cultures and our associates, creating one strategic vision coalesced around our eight core values.”
SpartanNash has a geographic network across 46 states, distributes to roughly 2,100 independent customer locations and has 165 corporate-owned stores.
In its last fiscal year, SpartanNash reported more than $7.9 billion in revenue, $59 million in profit and had a market value of nearly $1.19 billion as of March 31.
The Fortune 500 companies account for about $12.5 trillion in revenue, $945 billion in profit and $17 trillion in market value across a number of industries.
In total, the companies employ roughly 26.8 million people across the globe.
Eligible companies included on the Fortune 500 list are ranked by total revenue for their respective fiscal years ended on or before Jan. 31, 2015.
This year’s ranking included a review of various data and financial information: income statements, balance sheets, published earnings releases, 10-K filings, annual reports, market capitalization and earnings per share.
Other Michigan companies in Fortune 500
General Motors, Detroit, 6
Ford Motor, Dearborn, 9
Dow Chemical, Midland, 48
Lear, Southfield, 174
TRW Automotive Holdings, Livonia, 175
Penske Automotive Group, Bloomfield Hills, 177
DTE Energy, Detroit, 246
Ally Financial, Detroit, 295
Autoliv, Auburn Hills, 312
Masco, Taylor, 334
Visteon, Van Buren Township, 344
Borg Warner, Auburn Hills, 347
CMS Energy, Jackson, 383
Auto-Owners Insurance, Lansing, 425
Con-way, Ann Arbor, 456
Kelly Services, Troy, 471