Marsh Announces Agreement to Sell Convenience Store Distributing Company
INDIANAPOLIS, Sept. 21, 2001 (PRIMEZONE) -- Marsh Supermarkets, Inc. (Nasdaq:MARSA - news; Nasdaq:MARSB - news)announced today that it has entered into an agreement to sell the assets of Convenience Store Distributing Company (CSDC) to McLane Company, Inc., a Temple, Texas-based grocery distributor. The sale includes inventory, property, buildings and equipment and certain other assets plus the assumption by McLane of certain liabilities. Terms were not disclosed. The sale is subject to certain conditions and adjustment for changes in net assets up to the closing date. After the sale, McLane will provide distribution services to Marsh's Village Pantry Division and CSDC's current customers.
``We decided to focus on our core retailing businesses and redeploy our assets and energies accordingly,'' said Don E. Marsh, Chairman, President and CEO of Marsh Supermarkets. ``We will continue to self-distribute most products to our supermarkets and look forward to a mutually rewarding relationship with McLane.''
Marsh Supermarkets, one of the largest regional grocery chains in the United States, operates 68 Marsh(r) Supermarkets, 32 LoBill Foods(r) Stores, 2 Savin*$(r), 8 O'Malia Food Markets and 192 Village Pantry(r) convenience stores in central Indiana and western Ohio. The Company also operates Convenience Store Distributing Company(r), a wholesale food and grocery merchandising company that services 960 stores in a seven-state area, and Crystal Food Services(tm), which provides upscale catering, cafeteria
management, office coffee, vending and concessions, Primo Banquet Catering and Conference Centers and McNamara(r) Florists and Enflora - Flowers for Business(r).
``We decided to focus on our core retailing businesses and redeploy our assets and energies accordingly,'' said Don E. Marsh, Chairman, President and CEO of Marsh Supermarkets. ``We will continue to self-distribute most products to our supermarkets and look forward to a mutually rewarding relationship with McLane.''
Marsh Supermarkets, one of the largest regional grocery chains in the United States, operates 68 Marsh(r) Supermarkets, 32 LoBill Foods(r) Stores, 2 Savin*$(r), 8 O'Malia Food Markets and 192 Village Pantry(r) convenience stores in central Indiana and western Ohio. The Company also operates Convenience Store Distributing Company(r), a wholesale food and grocery merchandising company that services 960 stores in a seven-state area, and Crystal Food Services(tm), which provides upscale catering, cafeteria
management, office coffee, vending and concessions, Primo Banquet Catering and Conference Centers and McNamara(r) Florists and Enflora - Flowers for Business(r).