National Convenience Distributors Grows With Wustefeld Candy Acquisition
FARMINGDALE, N.Y. — Nearly 10 months after Palm Beach Capital Fund III LP established National Convenience Distributors LLC (NCD), the combined entity is continuing to grow with the acquisition of Wustefeld Candy.
Joining divisions J. Polep Distribution Services, Allen Brothers Wholesale Distribution and Harold Levinson Associates, Wustefeld becomes the latest distributor to become part of the rapidly growing NCD family. Financial terms were not disclosed.
NCD's annual revenue of $3 billion makes it the fifth largest wholesale distributor in the convenience store industry.
"The past year was a challenging one for almost everyone in our industry. However, I am very pleased that our organization met those challenges and delivered on a record year for the company," said Ed Berro, CEO of NCD. "Wustefeld is a great addition to NCD and we look forward to building upon what their management team has developed for generations."
Currently led by industry veterans Robert and Bruce Finkle, Wustefeld began its operations in the late 1800s as a family-owned and -operated business. It offers an array of products including candy, snacks, tobacco and general merchandise.
"My brother and I are proud of what our employees and we have built at Wustefeld over the years and we are thrilled to be joining NCD," commented Robert Finkle. "Because of this merger, the breadth of products available to our customers has significantly expanded. Now that we are part of a larger organization like National Convenience Distributors, we will be able to service our existing customer base more effectively and with the same level of exceptional customer service that they expect and have enjoyed."