WEST CONSHOHOCKEN, PA. – April 3, 2006 – Essex Grain Products, Inc. (“Essex”), headquartered in Frazer, PA, announced today that it has been acquired by Skidmore Sales and Distributing Company, Inc. (“Skidmore”), based in Cincinnati, OH. Both companies are leading distributors of food ingredients to the food processing, flavors, and health and nutritional industries.
Fairmount Partners of West Conshohocken, PA served as financial advisor to and structured and negotiated the transaction on behalf of Essex Grain Products.
The Essex acquisition will extend Skidmore’s geographic presence from the Midwest to the Mid-Atlantic and New England regions, strengthening the Company’s position as a leading distributor of food ingredients. In commenting on the purchase of Essex, Doug Skidmore, President of Skidmore Sales and Distributing, stated “Essex has a great reputation in the industry, and the geographical area it serves complements our territory very nicely.”
According to William and Alice Bierer, Essex Grain’s Chairman and Chief Executive Officer, respectively, “We are pleased that Skidmore is offering positions to all of our people, and we feel that Skidmore will continue our tradition of offering excellent service to our broad customer base.”
Skidmore plans to manage Essex as a separate operating unit under the Essex name, while offering additional products to Essex customers. Terms of the transaction were not disclosed.
ABOUT ESSEX GRAIN PRODUCTS, INC.
Essex Grain Products, originally founded in 1972, was established to better service, distribute and sell quality ingredients to customers in the food, pharmaceutical and nutritional industries. Over the years, Essex Grain Products has grown to become a large regional food ingredients distributor. The Company’s three distribution centers located in Frazer, PA, Newark, NJ, and Norwood, MA, enable the Company to efficiently service customers throughout the northeast, from Maine to Maryland.
For more information, please visit www.essexgrain.com.
ABOUT SKIDMORE SALES AND DISTRIBUTING COMPANY, INC.
Skidmore Sales and Distributing has been a distributor and broker of ingredients for food processors and manufacturers for 41 years. The Company operates from eight distribution centers located throughout the Midwest. The Company’s experienced staff of food technologists provides customized services including delivery arrangements, ingredients selection, lead time analysis, local warehousing and consignment, consolidation, vendor managed inventory and supply chain management.
For more information, please visit www.skidmoresales.com.
Principals of Fairmount Partners acted as advisors to Essex Grain Products in this transaction.
Contact: Richard W. Thatcher, Jr. and Charles N. Eckert