Core-Mark to draw loans for $190 million buyout of Farner-Bocken

By Susanna Moon

Chicago, May 22 – Core-Mark Holding Co., Inc. plans to finance its $190 million acquisition of Farner-Bocken Co. using a draw under its credit facility.

Core-Mark has entered into a definitive asset purchase agreement to acquire substantially all of the assets of Farner-Bocken based in Carroll, Iowa, according to a company announcement.

No debt or significant liabilities are being assumed by Core-Mark in the deal.

Core-Mark is a San Francisco-based wholesale distributor of packaged consumer products to the convenience retail industry.

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