BRENTWOOD, Tenn. -- Core-Mark Holding Co. Inc. said that it has signed a nonbinding letter of intent and is currently negotiating a definitive Supply Agreement with MAPCO Express Inc.
MAPCO Express, Brentwood, Tenn., operates approximately 500 convenience stores in eight southeastern states, operated under the MAPCO Express, MAPCO Mart, East Coast, Discount Food Mart, Fast Food & Fuel and Favorite Markets brand names.
Upon completion, the service agreement is expected to commence on or about Jan. 1, 2008.
Christopher Walsh, senior vice president for Core-Mark, said, "Mapco['s]...track record over the last few years of profitable same store growth coupled with steady, seamless integration of acquisitions has been exceptional."
South San Francisco, Calif.-based Core-Mark is one of the largest broad-line, full-service wholesale distributors of packaged consumer products to the convenience retail industry in North America. It provides distribution and logistics services as well as marketing programs to more than 21,000 retail locations in 45 states and five Canadian provinces through 24 distribution centers, two of which Core-Mark operate as third-party logistics providers. Core-Mark services traditional convenience retailers, grocers, drug, liquor and specialty stores, and other stores that carry consumer packaged goods.