M&A Deal Summary

Fleming Companies Acquires Core-Mark

On April 24, 2002, Fleming Companies acquired distribution company Core-Mark from Jupiter Partners for 390M USD

Acquisition Highlights
  • This is Fleming Companies’ 2nd transaction in the Distribution sector.
  • This is Fleming Companies’ largest (disclosed) transaction.
  • This is Fleming Companies’ 3rd transaction in the United States.
  • This is Fleming Companies’ 1st transaction in Texas.
Investment Fate
  • Core-Mark was sold to a strategic buyer in 2021 for 2.5B USD.

M&A Deal Summary
Date 2002-04-24
Target Core-Mark
Sector Distribution
Buyer(s) Fleming Companies
Sellers(s) Jupiter Partners
Deal Type Add-on Acquisition
Deal Value 390M USD

Target

Core-Mark

Westlake, Texas, United States
Core-Mark is a wholesale distributor to the convenience retail industry. Core-Mark provides sales, marketing, distribution and logistics services to customers across the United States and Canada through a network of distribution centers. Core-Mark was founded in 1888 and is based in Westlake, Texas.

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Buyer(S) 1

Buyer

Fleming Companies

Lewisville, Texas, United States
Category Company
Founded 1915
Sector Distribution
DESCRIPTION

Fleming Companies, Inc., through its subsidiaries, distributes piece-pick to convenience stores and other retail customers in the western United States and Canada.

DEAL STATS #
Overall 3 of 3
Sector (Distribution) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (Texas) 1 of 1
Country (United States) 3 of 3
Year (2002) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-09-01 Miller & Hartman South

Leitchfield, Kentucky, United States

Miller & Hartman South LLC markets and distributes groceries and caters to convenience stores in Kentucky.

Buy -

Seller(S) 1

SELLER

Jupiter Partners

New York, New York, United States
Category Private Equity Firm
Founded 1994
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Jupiter Partners is a private investment firm that targets management buyouts, industry consolidations and growth capital opportunities. Jupiter typically provides equity of between $15 million and $80 million for each investment. Industries of interest include business services and solutions, healthcare services, distribution/logistics, and specialty consumer/retail. Jupiter's geographic preference is for US based opportunities. The Firm's investment horizon is three to seven years. Jupiter Partners was formed in 1994 and is based in New York City.

DEAL STATS #
Overall 2 of 8
Sector (Distribution) 1 of 1
Type (Add-on Acquisition) 2 of 4
State (Texas) 1 of 1
Country (United States) 2 of 8
Year (2002) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-03-01 Installation Made Easy

Kennesaw, Georgia, United States

Installation Made Easy provides enterprise software for the home improvement industry. This comprehensive software platform enables retailers to offer a wide range of home improvement products and services to their customers on a nationwide basis, with minimal investment or operational responsibility. Installation Made Easy is based in Kennesaw, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-06-01 JSA Healthcare

St. Petersburg, Florida, United States

JSA Healthcare Corp. is a provider of 24/7 access to high-quality telePsychiatry care for a wide variety of settings, including emergency departments, community health clinics, educational institutions and more. JSA Healthcare was founded in 1969 and is based in St. Petersburg, Florida.

Buy -
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