Contact Information: Contact: Ms. Milton Gray Draper Director of Investor Relations 650-589-9445 X3027
Core-Mark Completes Deal to Acquire Auburn Merchandise Distributors, Inc.
| Source: Core-Mark Holding Company, Inc.
SOUTH SAN FRANCISCO, CA--(Marketwire - June 24, 2008) - Core-Mark Holding Company, Inc.
(NASDAQ : CORE ), one of the largest North American distributors to the
convenience retail industry, announced today that it has closed its
previously announced agreement to acquire substantially all of the assets
of Auburn Merchandise Distributors, Inc.
"Both companies recognized the potential customer benefits in combining
Core-Mark's industry leading marketing programs with Auburn's established
excellence in reliable, flexible, and responsive customer service. We both
have an appreciation of the challenges our retailers face in today's
marketplace. Our joint commitment is to help our customers grow their
in-store sales with the most efficient and effective marketing and
logistics programs to be found in the industry today. The management team
leading Auburn is proven, and we are excited about this latest addition to
the
Core-Mark family. Auburn enables us to continue our vision of taking our
successful business model to more areas of the country," said Michael
Walsh, Chief Executive Officer of Core-Mark.
Core-Mark
Core-Mark is one of the largest broad-line, full-service wholesale
distributors of packaged consumer products to the convenience retail
industry in North America. Founded in 1888, Core-Mark provides distribution
and logistics services as well as marketing programs to over 24,000 retail
locations in 50 states and five Canadian provinces through 26 distribution
centers, two of which Core-Mark operates as third party logistics
providers. Core-Mark services traditional convenience retailers, grocers,
drug, liquor and specialty stores, and other stores that carry consumer
packaged goods. For more information, please visit www.core-mark.com.
Safe Harbor
Except for historical information, the statements made in this press
release are forward-looking statements made pursuant to the safe-harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are based on certain assumptions or estimates,
discuss future expectations, describe future plans and strategies, contain
projections of results of operations or of financial condition or state
other forward-looking information. Our ability to predict results or the
actual effect of future plans or strategies is inherently uncertain.
Although we believe that the expectations reflected in such forward-looking
statements are based on reasonable assumptions, actual results and
performance could differ materially from those set forth in the
forward-looking statements. Forward-looking statements in some cases can be
identified by the use of words such as "may," "will," "should,"
"potential," "intend," "expect," "seek," "anticipate," "estimate,"
"believe," "could," "would," "project," "predict," "continue," "plan,"
"propose" or other similar words or expressions. These forward-looking
statements are based on the current plans and expectations of our
management and are subject to certain risks and uncertainties that could
cause actual results to differ materially from historical results or those
discussed in such forward looking statements.
Factors that might cause or contribute to such differences include, but are
not limited to our dependence on the convenience store industry for our
revenues; competition; price increases; our dependence on relatively few
suppliers; the low-margin nature of cigarette and consumable goods
distribution; certain distribution centers' dependence on a few relatively
large customers; competition in the labor market and collective bargaining
agreements; product liability claims and manufacturer recalls of products;
fuel price increases; our dependence on our senior management and key
personnel; currency exchange rate fluctuations; our ability to borrow
additional capital; governmental regulations and changes thereto;
earthquake and natural disaster damage; failure or disruptions to our
information systems;; a general decline in cigarette sales volume;
competition from sales of deep-discount brands and illicit and other low
priced sales of cigarettes. See the "Risk Factors" section included in our
Form 10-K, our most recent Form 10-Q and all other information discussed in
our filings with the Securities and Exchange Commission for a discussion of
risks and uncertainties that may affect our business. Except as provided by
law, we undertake no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.