FARMINGDALE, N.Y. —National Convenience Distributors (NCD) has acquired Wustefeld Candy, an Albany, N.Y.-based wholesale distributor to the convenience-store and grocery industry.
The companies did not disclose the financial terms of the deal.
Joining divisions J. Polep Distribution Services, Allen Brothers Wholesale Distribution and Harold Levinson Associates, Wustefeld becomes the latest distributor to become part of the NCD family. With annual revenues of approximately $3 billion, Farmingdale, N.Y.-based NCD is the fifth largest wholesale distributor to the convenience industry, it said.
Currently led by industry veterans Robert and Bruce Finkle, Wustefeld began its operations in the late 1800s as a family-owned and -operated business. The company offers an array of products including candy, snacks, tobacco products and general merchandise.
“My brother and I are proud of what our employees and we have built at Wustefeld over the years and we are thrilled to be joining NCD,” said Robert Finkle. “Because of this merger, the breadth of products available to our customers has significantly expanded. Now that we are part of a larger organization like National Convenience Distributors, we will be able to service our existing customer base more effectively and with the same level of exceptional customer service that they expect and have enjoyed.”
“The past year was a challenging one for almost everyone in our industry,” said NCD CEO Ed Berro. “However, I am very pleased that our organization met those challenges and delivered on a record year for the company. Wustefeld is a great addition to NCD and we look forward to building upon what their management team has developed for generations.”
With roots dating back more than 120 years, NCD is the parent entity of three main operating divisions, Allen Brothers, J. Polep and Harold Levinson, which service customers in 11 states.
Founded in 2001, Palm Beach Capital is a private equity investment firm with offices in both West Palm Beach and Sarasota, Fla. The firm focuses on high-growth investment opportunities and partners with management teams in middle-market management buyouts, recapitalizations and growth equity investments. Since its inception, Palm Beach Capital has made investments in 49 platform portfolio companies.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.