C&S Wholesale Grocers Inc. has signed an agreement to acquire Olean Wholesale Grocery Cooperative Inc. The sale is expected to close early next year.
Olean Wholesale is a full-service grocery wholesaler that distributes all major product lines, including grocery, frozen, dairy, meat, produce, general merchandise and health and beauty care. The Olean, N.Y.-based company services more than 270 independent food retail and convenience stores throughout New York, Pennsylvania and northeast Ohio. The wholesaler is known for its comprehensive product offerings, personalized customer service, and collaborative partnerships with independent retailers and manufacturers.
Current CEO and President Robert Ketchner will stay on to manage Olean Wholesale’s day-to-day operations, thereby ensuring consistency for employees, customers and vendors.
“As proven by the nearly 100 years of success with Olean Wholesale’s premier service model, Bob and the Olean team have established themselves as outstanding operators in the wholesale food business,” said Mike Duffy, CEO of Keene, N.H.-based C&S. “We have admired Olean Wholesale and the impressive organization its talented employees have built and very much look forward to partnering with the Olean team to continue this tradition and to expand the solutions available to their customers with the additional strength and scale of C&S.”
“I am excited about the future and the new opportunities this partnership will offer the members of Olean Wholesale,” noted Ketchner. “I believe that having the opportunity to combine the unquestioned service and dedication to our retailers with the scale and expertise of C&S will only make us better. I have had the pleasure of servicing our members for over 20 years, and I look forward to working with our team for many more.”
RBC Capital Markets LLC served as financial advisor to Olean Wholesale, and Phillips Lytle LLP served as legal counsel to the company, while Downs Rachlin Martin PLLC served as legal advisor to C&S.
The largest wholesale grocery supply company in the United States, C&S now services customers of all sizes, supplying about 7,700 independent supermarkets, chain stores, military bases, and institutions with more than 137,000 different products.