SOUTH SAN FRANCISCO, Calif. -- Core-Mark Holding Co. Inc., one of the largest marketers of fresh and broad-line supply solutions to the convenience-store retail industry in North America, closed the purchase of substantially all of the assets of Karrys Bros. Ltd. and certain affiliates for approximately $10 million (Canadian; $7.98 million U.S.).
Annual sales for the acquired business are approximately $100 million (Canadian; $79.8 million U.S.).
"Karrys has been a strong presence in Canada, and we are pleased to have them join our company," said Thomas B. Perkins, president and CEO of Core-Mark. "We are excited to have the opportunity to continue providing Karrys' customers with industry-leading service they have come to expect, and we are pleased to welcome a select group of Karrys' employees to the Core-Mark family."
Founded in 1913, Karrys is dedicated to the wholesale distribution of tobacco, confectionary, snacks, beverages, health and beauty products, grocery and automotive supplies. In addition to traditional consumer packaged goods (CPG), Karrys offers fresh, frozen and refrigerated products. Karrys serves a diverse customer base consisting of traditional convenience stores, mass merchants and institutional and other retail formats.
Core-Mark is one of the largest marketers of fresh and broad-line supply solutions to the convenience-store industry in North America. Founded in 1888, Core-Mark offers a full range of products, marketing programs and technology solutions to approximately 35,000 customer locations in the United States and Canada through 29 distribution centers (excluding two distribution facilities that Core-Mark operates as a third-party logistics provider). Core-Mark services traditional convenience-store retailers, grocers, drug, liquor and specialty stores and other stores that carry convenience products.
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