Joele Frank represents Core-Mark Holding Co., one of the nation’s largest suppliers of food, supplies and logistics to convenience stores, as it is acquired by Performance Food Group foodservice company to create a $44B combine.
Founded in 1888, Westlake, TX-based Core-Mark operates 32 distribution centers that service 40K customers in the US and Canada.
Richmond-headquartered Performance Food Group said the acquisition expands its geographic reach and increases its penetration of the fast-growing convenience store sector.
Scott McPherson, Core-Mark CEO, said the transaction joins “two companies known for their customer-focused approach and dedication to their employees.”
The deal provides “investors immediate value and the opportunity to participate in the upside potential of being part of a larger, diversified and customer-centric supplier,” he added.
The deal, which is subject to antitrust approval, is expected to close during the second half of 2022.
Joele Frank, Wilkinson Brimmer Katcher has Aaron Palash and Jack Kelleher representing Core-Mark.