AMARILLO, Texas -- SMA Advisors has announced the sale of its client, Amarillo, Texas-based wholesale distributor McCarty-Hull Inc., to Temple, Texas-based grocery and foodservice distributor McLane Co. Inc. Company officials say they expect a seamless transition that will leave Amarillo managers in charge of day-to-day operations. Terms were not disclosed.
McCarty-Hull distributes approximately $100 million of grocery, tobacco and other products to convenience stores and grocers annually in four states, Texas, Oklahoma, New Mexico and Colorado. It serves chains and smaller, [image-nocss] independent retailers.
McLane, a $24 billion revenue operation, provides supply chain services throughout the United States, delivering food and nonfood products to more than 60,000 customer locations, including the convenience store, drug store, mass merchandise, quick service restaurant and movie theater industries. It operates 19 grocery distribution divisions and 18 foodservice distribution centers as well as an industry specific software company. McLane is a wholly owned subsidiary of Berkshire Hathaway Inc., Omaha.
SMA Advisors and its managing director Brenen Hofstadter represented the majority sellers as their financial advisor. McCarty-Hull was partially owned by an employee stock ownership plan (ESOP) that was represented by Wayne Isaacks and Associates as trustee. Baker Botts LLP was the legal representative for McLane.
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