Pays approximately $174 million in cash for all assets of Farner-Bocken Co.
Core-Mark Holding Co. Inc. has closed its previously announced acquisition of substantially all of the assets of Farner-Bocken Co.
The adjusted purchase price was approximately $174 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 is one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America.