Contact Information: Contact: Ms Milton Gray Draper Director of Investor Relations 650-589-9445 X3027
Core-Mark Holding Company Announces Letter of Intent With MAPCO Express, Inc.
| Source: Core-Mark Holding Company, Inc.
SOUTH SAN FRANCISCO, CA--(Marketwire - November 5, 2007) - Core-Mark Holding Company, Inc.
(NASDAQ : CORE ) announced today that it has signed a non-binding letter of
intent and is currently negotiating a definitive Supply Agreement with
MAPCO Express, Inc.
MAPCO Express, Inc. is headquartered in Brentwood, TN and operates
approximately 500 convenience stores in 8 southeastern states, operated
under the MAPCO Express®, MAPCO Mart™, East Coast®, Discount Food
Mart™, Fast Food and Fuel™, and Favorite Markets® brand names.
"We are delighted to begin our new relationship with MAPCO," says
Christopher Walsh, Senior Vice President for Core-Mark. "Mapco is a
recognized leader in our industry, and their track record over the last few
years of profitable same store growth coupled with steady, seamless
integration of acquisitions has been exceptional. We are extremely pleased
to be associated with such an innovative and successful company."
Upon completion, the service agreement is expected to commence on or about
January 1st, 2008.
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
21,000 retail locations in 45 states and five Canadian provinces through 24
distribution centers, two of which Core-Mark operate 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; our material weakness in internal controls over
financial reporting; 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.