AMCON Distributing Company Expands Into Northwest Arkansas

AMCON Distributing Company (“AMCON”) (AMEX:DIT), an Omaha, Nebraska based consumer products company is pleased to announce that it will significantly increase its wholesale distribution presence in the Northwest Arkansas market with the acquisition of the convenience store distribution assets of Discount Distributors from its parent Harps Food Stores Inc.

Christopher H. Atayan, AMCON’s Chairman and Chief Executive Officer commented, “We are delighted that this acquisition will expand our distribution network in the State of Arkansas. Discount Distributor’s management team has maintained excellent long-term relationships in the marketplace and will be a solid fit with our service oriented culture. With this acquisition we welcome over 300 new customers to the AMCON family. Our reliable service and expanded product offerings enhance the range of their profit making opportunities.”

This acquisition will be funded through AMCON’s existing credit facilities and will add a sixth branch to its system that will be located in Springdale, Arkansas. Fiscal 2008 sales for the assets acquired were approximately $59.8 million.

AMCON is a leading wholesale distributor of consumer products, including beverages, candy, tobacco, groceries, food service, frozen and chilled foods, and health and beauty care products with distribution centers in Illinois, Missouri, Nebraska, North Dakota and South Dakota. Chamberlin's Natural Foods, Inc. and Health Food Associates, Inc., both wholly-owned subsidiaries of The Healthy Edge, Inc., operate health and natural product retail stores in central Florida (6), Kansas, Missouri, Nebraska and Oklahoma (4). The retail stores operate under the names Chamberlin's Market & Cafe and Akins Natural Foods Market.

This news release contains forward-looking statements that are subject to risks and uncertainties and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. A number of factors could affect the future results of the Company and could cause those results to differ materially from those expressed in the Company's forward-looking statements including, without limitation, availability of sufficient cash resources to conduct its business and meet its capital expenditures needs and the other factors described under Item 1.A. of the Company’s Annual Report on Form 10-K. Moreover, past financial performance should not be considered a reliable indicator of future performance. Accordingly, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 with respect to all such forward-looking statements.

Visit AMCON Distributing Company's web site at: www.amcon.com

AMCON Distributing (AMEX:DIT)
Historical Stock Chart
From Aug 2024 to Sep 2024