Core-Mark Announces Supply Chain Contract Extension with MAPCO
January 09 2019 - 8:30AM
Core-Mark Holding Company, Inc. (NASDAQ: CORE) announced today it
has extended its supply agreement for five years with MAPCO.
Core-Mark is currently serving more than 345 MAPCO corporate owned
stores in seven states, primarily in the Southern region of the
country.
“The Core-Mark team is excited to extend our
partnership with MAPCO. We look forward to working with this best
in class retailer by broadening their excellent food offerings and
streamlining their product sourcing while also providing first-rate
service,” said Bill Stein, Senior Vice President of Enterprise
Growth for Core-Mark.
“The Core-Mark team has been an excellent
strategic partner for MAPCO and assisted us in expanding our
instore offerings. We look forward to working together to achieve
our mutual goals of profitable growth, efficient operations and
superior execution for our stores and our customers,” said Keith
Slater, Vice President of Procurement for MAPCO.
This long term partnership has developed over
ten years and has supported the strategies of both organizations.
This agreement commenced on or about January 1, 2019.
Core-MarkCore-Mark is one of
the largest marketers of fresh and broad-line supply solutions to
the convenience retail industry in North America. Founded in 1888,
Core-Mark offers a full range of products, marketing programs and
technology solutions to over 44,000 customer locations in the U.S.
and Canada through 32 distribution centers (excluding two
distribution facilities the Company operates as a third party
logistics provider). Core-Mark services traditional convenience
retailers, grocers, big box, supercenter stores, drug, liquor and
specialty stores, and other stores that carry convenience products.
For more information, please visit www.core-mark.com.
MAPCOThe MAPCO team of over
3,200 dedicated employees deliver Convenience You Can TRUST® in 345
company-owned convenience stores operating primarily in Tennessee,
Alabama and Georgia with additional locations in Arkansas,
Virginia, Kentucky and Mississippi. Since November of 2016, they
have been owned by COPEC, a South American-based retail
company.
Forward-Looking Statements
Except for historical information, the
statements made in this press release are forward-looking
statements made pursuant to the safe-harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are based on certain assumptions or estimates, discuss
future expectations, describe future plans and strategies, contain
projections of results of operations or of financial conditions or
state other forward-looking information. Our ability to predict
results or the actual effect of future plans or strategies is
inherently uncertain.
Although we believe that the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, our actual actions and results could differ
materially from those set forth in the forward-looking statements.
Forward-looking statements in some cases can be identified by the
use of words such as “may,” “will,” “should,” “potential,”
“intend,” “expect,” “seek,” “anticipate,” “estimate,” “believe,”
“could,” “would,” “project,” “predict,” “continue,” “plan,”
“propose” or other similar words or expressions. These
forward-looking statements are based on the current plans and
expectations of our management and are subject to certain risks and
uncertainties that could cause actual results to differ materially
from those discussed in such forward-looking statements. Except as
required by law, we undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Contact:
Ms. Milton Gray Draper
Director of Investor Relations
650-589-9445 x 3027
mdraper@core-mark.com
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