AMCON Distributing Company (“AMCON”), headquartered in Omaha, Nebraska, and recognized as a prominent Convenience and Foodservice Distributor, is delighted to announce the signing of an Asset Purchase Agreement to acquire Richmond Master Distributors, Inc. (“Master Distributors”), located in South Bend, Indiana.
“We are privileged that Patrick Carrico and Scott Carrico have entrusted AMCON to carry forward the remarkable legacy and stewardship of this esteemed enterprise, established in 1947,” stated Christopher H. Atayan, Chairman and CEO of AMCON. Mr. Atayan continued, “We extend a warm welcome to Master Distributors’ team members, clientele, and partners into our AMCON Family. Indiana offers an excellent business environment, aligning with our strategic expansion objectives.”
Following the acquisition, AMCON will continue serving Master Distributors’ customers from its South Bend location. This addition will expand AMCON’s service network to approximately 7,900 locations across 33 states.
“The Carrico family’s unwavering dedication to customer service and their extensive industry experience resonate strongly with AMCON’s values,” remarked Andrew C. Plummer, President and COO of AMCON. Mr. Plummer added, “We are eager to offer Master Distributors’ clientele our advanced customer-centric services, enhancing the value we provide.”
Patrick Carrico, CEO of Master Distributors, emphasized, “Our growth has been driven by continual innovation in products and services.” He continued, “Adapting to the evolving retail landscape demands exceeding customer expectations, and we believe AMCON provides the ideal platform to meet these demands.” Scott Carrico, COO of Master Distributors, echoed, “With enhanced resources, technology, and geographic reach, we are poised to support our customers’ growth effectively.” He added, “AMCON’s collaborative culture and customer-centric approach resonate with our values, promising continued growth and innovation.”
The transaction is anticipated to conclude in the third quarter of fiscal 2024, subject to customary closing conditions.
AMCON, along with its subsidiaries Team Sledd, LLC, and Henry’s Foods, Inc., stands as a leading distributor of consumer products, operating twelve distribution centers across several states. Additionally, through its Healthy Edge Retail Group, AMCON manages fourteen health and natural product retail stores in the Midwest and Florida.
This release may contain forward-looking statements, subject to risks and uncertainties. Factors such as economic conditions, industry trends, and Company performance could impact future results, as outlined in the Company’s Annual Report on Form 10-K. Past performance should not be considered indicative of future results. The Company invokes the safe harbor provision for forward-looking statements under the Private Securities Litigation Reform Act of 1995.
