HOUSTON, TX - C&S Wholesale Grocers Inc. has entered into an agreement to acquire Grocers Supply. With the close of this latest transaction, C&S will merge its operations with that of Texas' largest wholesale grocery supplier, a company which generates roughly $3 billion in annual sales and supplies more than 900 independent grocers, according to the Houston Business Chronicle.
“The Grocers Supply Company has a century-long legacy of providing the highest level of service to its valued customers, which are primarily independent retailers and regional chains,” said Rick Cohen, C&S Chairman and CEO in the Herald Online. “We very much look forward to partnering with the Grocers Supply team to continue this tradition and to expand the services and offerings available to its customers through the strength and scale of C&S. C&S is excited to enter the Southwestern United States market and to have the opportunity to service this growing and vital region.”
"As the Levit Family planned for the next 100 years, with the goal of sustaining the Grocers Supply wholesale business, we determined that selling the wholesale business would be in the best interest of its stakeholders," agreed Max Levit, President of Grocers Supply, in a statement. "We carefully selected C&S Wholesale Grocers as the best choice for our employees and customers because of C&S's commitment to growth, operational excellence and service to independent grocers."
As the Houston Business Chronicle notes, this deal gives C&S a key presence in the southwestern United States, helping to expand and grow the business.
At this time, neither company has revealed specific financial terms regarding this transaction, however, reports have surfaced that the deal is expected to formally close before the end of the year.
Lazard Ltd. is working as financial adviser to Grocers Supply for this transaction, with Vinson & Elkins LLP operating as legal counsel. Sullivan and Cromwell LLP is legal counsel to C&S, according to the Herlad Online.
