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Essex Grain Products, Inc. acquired by Skidmore Sales and Distributing Company, Inc.Monday April 3W. CONSHOHOCKEN, Penna. – 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. For more information, please visit www.essexgrain.com.
About Skidmore Sales
and Distributing Company, Inc.
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 |