United Stationers (USTR) Announces Agreement to Acquire Emco Distribution for $15 Million
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United Stationers Inc. (NASDAQ: USTR) has signed a definitive purchase agreement with Emco Distribution, LLC to acquire Emco's New Jersey business, including certain assets and liabilities. The $15 million purchase price, subject to post-closing adjustments, will be funded under the company's existing credit agreement. This transaction is expected to close in early September.
"This acquisition adds to our already strong base of customers and will help us advance toward our long-term financial goals. We believe that this transaction will be accretive to earnings beginning in 2008 and will add incremental annual revenues of approximately $70 million."
United Stationers Inc. (United) is a broad line wholesale distributor of business products.[SM]
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