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Interline Brands Inc. (NYSE: IBI), Jacksonville, FL, No. 15 on MDM's list of the top 40 industrial distributors, has agreed to acquire JanPak, Inc., Davidson, NC, for $82.5 million in cash. The acquisition is expected to close before the end of 2012.
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JanPak is a regional distributor of janitorial and sanitation supplies and packaging products serving property management and building service contractors, as well as manufacturing, health care and educational facilities. It has 17 distribution centers in the Southeast and South Central U.S. JanPak had $232 million in sales for the 12 months ended Oct. 31, 2012.
"This acquisition represents another step forward in our strategy to expand our footprint and scale in the stable and attractive institutional market, and further enhances our position as the largest national, broad-line JanSan platform in the United States," said Michael J. Grebe, Interline chairman and CEO.
Interline also announced that CFO John A. Ebner will leave the company to pursue new opportunities closer to his family. Ebner will remain in his current position through March 2013. The company, along with its executive search firm, Spencer Stuart, has initiated a formal search for Ebner's replacement.