Multiple Wholesalers Join Forces to Create National Convenience Distributors LLC
WEST PALM BEACH, Fla. — Palm Beach Capital Fund III LP made an investment in Allen Brothers Wholesale Distributors, adding another building block to it national wholesale distribution network.
With is latest pact, Palm Beach Capital established National Convenience Distributors LLC (NCD) to serve the convenience and grocery channels. Joining Allen Brothers in the company are J. Polep Distribution Services and Harold Levinson Associates. Each will become operating divisions of NCD.
NCD's annual revenue of $3 billion makes it the fifth largest wholesale distributor in the convenience store industry.
Philadelphia-based Allen Brothers began operations in 1910 as a family business, growing to serve Pennsylvania, New Jersey, Maryland and Delaware. Industry veteran and third generation Jeff Allen serves as president.
Palm Beach Capital, a private equity firm based in West Palm Beach, did not disclose the financial terms of its investment.
"I am extremely excited about joining Palm Beach Capital and the NCD team," Allen said. "The opportunities for our business and our employees just dramatically expanded as a result of this merger. Being part of a larger organization like National Convenience Distributors will allow us to expand our geographical reach and service our existing customer base more effectively. We remain dedicated to the long-term success of our devoted employees, our customers and our valued suppliers."
With its creation, NCD becomes largest full-line convenience store distributor servicing the Northeast. Its benefits include enhanced customer experiences, implementation of best practices, integration of centralized operating systems, increased marketing power and go-to-market efficiencies, and synergistic and collaborative programs.
"I would like to welcome Jeff Allen and his team to the NCD family. Having recently gone through a transaction with Palm Beach Capital, I know firsthand the significant opportunities and benefits that will emerge for the Allen Brothers division," said Eric Polep, president of the J. Polep Distribution Services Division.
Ed Berro, president of the Harold Levinson Associates Division, added "the three divisions complement each other exceptionally well and together we are a much stronger organization."