SOURCE: Core-Mark Holding Company, Inc.

June 24, 2008 08:30 ET

Core-Mark Completes Deal to Acquire Auburn Merchandise Distributors, 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 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

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.

Contact Information

  • Contact:
    Ms. Milton Gray Draper
    Director of Investor Relations
    650-589-9445 X3027
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