Amarillo, TX - SMA Advisors announced the sale of its client, Amarillo-based wholesale distributor McCarty-Hull, to Temple-based grocery and food-service distributor McLane Co. Company officials say they expect a seamless transition that will leave Amarillo managers in charge of day-to-day operations.
McCarty-Hull distributes approximately $100M of grocery, tobacco and other products to convenience stores and grocers annually in four states. It serves chains and smaller, independent retailers.
McLane, a $24B revenue operation owned by Warren Buffett's Berkshire Hathaway, has 19 grocery distribution divisions and 18 food-service distribution centers throughout the United States.
SMA Advisors and its managing director Brenen Hofstadter represented the majority sellers as their financial advisor. McCarty-Hull was partially owned by an ESOP which was represented by Wayne Isaacks and Associates as trustee. Baker Botts LLP was the legal representative for McLane.
SOURCE: SMA Advisors