Core-Mark completes acquisition of Farner-Bocken for USD174 million

Core-Mark

Core-Mark Holding Company, Inc., a net marketer of fresh and broad-line supply solutions to the convenience retail industry in North America, has finalised its previously announced acquisition of substantially all of the assets of Farner-Bocken Company.

The adjusted purchase price was approximate USD174 million, paid in cash and is subject to post-closing adjustments. No debt or significant liabilities were assumed by Core-Mark in connection with the transaction. Core-Mark funded the purchase with borrowings under its credit facility. The Company expects to spend approximately $1.5 million in start-up and due diligence costs in 2017.

Core-Mark markets fresh and broad-line supply solutions to the convenience retail industry in North America.

The company was founded in 1888, Core-Mark offers a full range of products, marketing programs and technology solutions to approximately 47,000 customer locations in the U.S. and Canada through 32 primary distribution centers (excluding two distribution facilities the Company operates as a third party logistics provider).