Core-Mark finalizes Farner-Brocken buy for $190mn

Core-Mark, one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America, has entered into a Definitive Asset Purchase Agreement to acquire Farner-Brocken Company for approximately $190 million.

Farner-Brocken is a Carroll, Iowa-based distributor of convenience foodservice with almost 6,000 customers in 14 states across Midwest.

"This acquisition establishes a strong foothold in the Mid-West and provides Core-Mark additional expertise in foodservice and fresh that has the potential to spread through our other divisions," said Thomas B. Perkins, President and Chief Executive Officer of Core-Mark.

Farner-Brocken's President Dean Onken and Chief Financial Officer Paul Francis will continue to lead the acquired company taking the new position of Co-Division Presidents.