USA: Weis Markets to Sell Food Service Division to Reinhart FoodService
Weis Markets (NYSE: WMK) today announced plans to sell its food service division, known as Weis Food Service (WFS), to Reinhart FoodService of LaCrosse, Wisconsin."We have done much to increase the value of Weis Food Service, which was a small food service company when we acquired it. Today it is a strong regional food service company," said Weis Markets President Norman S. Rich. "But in recent years, we have been strongly focused on the growth of our core business -- the retail food business. Increasingly, our supermarket and foodservice divisions have evolved into two very different businesses with different distribution, marketing and operational requirements. This is the principal reason for our decision to sell Weis FoodService.""We are also pleased to note that Reinhart FoodService will continue to operate this division from the Sunbury region and plans to retain WFS's employees, which was a very important part of our decision," said Mr. Rich. "Quite simply, we would not have made this deal without these assurances."Reinhart FoodService is one of the largest privately held foodservice distributors in the United States. The LaCrosse, WI company currently serves 14,000 clients in 15 states. The Company forecasts year 2000 sales of $1 billion. Reinhart currently operates eight warehouses, including one in Greensburg, PA.Founded in 1912, Weis Markets currently operates 168 stores in six states: Pennsylvania, Maryland, New Jersey, New York, Virginia and West Virginia.
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