Associated Wholesalers (AWI) representatives announced the company entered an agreement with C&S Wholesale Grocers (C&S) where C&S would bid in an auction of AWI and its subsidiaries in US Bankruptcy Court.
The offer is open to potentially higher or better offers. AWI and its subsidiaries filed Chapter 11 petitions.
AWI representatives said previously the company would look to sell its White Rose subsidiary. However, more recently, the company is looking to sell AWI in addition to White Rose.
Officials from AWI agreed the asset purchase agreement with C&S is in the best interest of AWI and its stakeholders.
C&S representatives said the addition of AWI and its subsidiaries would expand C&S’s presence and improve the company’s ability to serve independent grocers. Additionally, C&S reps noted AWI and White Rose have a positive customer base and the companies are a natural fit for C&S.