Friday May 9, 02:01 PM
Core-Mark Holding buys Auburn Merchandise Distributors for $28M
NEW YORK (Thomson Financial) - Core (Berlin: LJ1.BE - news) -Mark Holding Co. Inc. Friday said it would buy Auburn Merchandise Distributors for $28 million.
Core-Mark expects the deal to add to its 2008 earnings, excluding an expected $1.4 million in start-up and conversion costs.
The deal, which is expected to close in June, will be funded from excess availability under Core-Mark's revolving credit facility, as well as from working capital.
Shares of Core-Mark, a distributor of packaged consumer products, closed Thursday at $27.11.
Ryan Vlastelica
rv/vj
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
NNNN
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
