Amarillo, TX (PRWEB) October 31, 2008
SMA Advisors announced the sale of its client, Amarillo-based wholesale distributor McCarty-Hull, to Temple-based grocery and food-service distributor McLane Co. Company officials say they expect a seamless transition that will leave Amarillo managers in charge of day-to-day operations.
McCarty-Hull distributes approximately $100 million of grocery, tobacco and other products to convenience stores and grocers annually in four states. It serves chains and smaller, independent retailers.
McLane, a $24 billion revenue operation owned by Warren Buffett's Berkshire Hathaway, has 19 grocery distribution divisions and 18 food-service distribution centers throughout the United States.
SMA Advisors and its managing director Brenen Hofstadter represented the majority sellers as their financial advisor. McCarty-Hull was partially owned by an ESOP which was represented by Wayne Isaacks and Associates as trustee. Baker Botts LLP was the legal representative for McLane.
The transaction closed March 29, 2006 and the terms were not disclosed.