National food distributor Nash Finch Company has entered into an agreement to acquire certain assets from GSC Enterprises Inc., a food distributor headquartered in Sulphur Springs TX.
Under terms of the agreement, Nash Finch will operate three distribution centers, in Pensacola FL, Junction City KS, and San Antonio TX, respectively, each of which services military commissaries and exchanges. Nash Finch will pay an estimated $80 million to GSC Enterprises in this all-cash transaction.
Based on trailing 12-month financial information provided by GSC, for the period ending October 2008, the revenue contribution to GSC from these three facilities was approximately $740 million. The transaction is expected to close in the first quarter of 2009, subject to regulatory approval and customary closing conditions.
GSC Enterprises is one of the largest wholesale convenience store distributors in America, serving more than 4,500 independently owned convenience stores, supermarkets, wholesale houses, discount centers, and other retailers.
