Core-Mark to draw on revolver for purchase of Forrest City Grocery

By Toni Weeks

San Diego, April 5 - Core-Mark Holdings Co., Inc. plans to use borrowings under its $200 million revolving credit facility along with cash to fund the $73 million acquisition of Forrest City Grocery Co., according to a news release.

The transaction, which is expected to close within two months, is structured as an all-cash merger, and Forrest City will become a wholly owned indirect subsidiary of Core-Mark.

Core-Mark is a San Francisco-based wholesale distributor of packaged consumer products to the convenience retail industry.

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