Grocers Supply president Scott Weaver told the newspaper that K Enterprises, a wholesale distributor to independent convenience and liquor stores, was financially "distressed" and that his company bought the assets from its bank.
The addition of K Enterprises' customers expands Grocers Supply's [image-nocss] clientele to more than 800 in five Midwestern states, said the report.
Founded in 1938, Grocers Supply has 80 employees and annual revenue of more than $60 million. It is a full-line supplier to independent grocery stores in Indiana, Ohio, Kentucky Illinois, Michigan and Missouri. The company has a 260,000-square-foot warehouse. It also has its own fleet of trucks through its GS Transportation LLC.
K Enterprises had 12 employees and roughly $2 million in annual revenue. Some of the employees, excluding executives, will join Grocers Supply, Weaver told the Business Journal.
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