News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
IWC will be acquired by US Food Holding Corporation based in Rosemont, Illinois by June of this year.
The acquisition price not announced. According to US Food, the move will give US Food a middle Tennessee distribution center where the company lacks such a facility. US Foods operates distribution centers in Knoxville and Memphis.
Institutional Wholesale Company began operations in 1957 with one salesman, one truck, and one delivery driver serving only Putnam County. Jimmy Mackie purchased half interest in the company in 1958, beginning that family’s involvement with IWC. IWC’s estimated revenues today top more than $200 million.
According to US Foods, the 165-thouand square foot distribution center on the Algood/Cookeville line will continue to operate as will the Cash and Carry Store on Willow Avenue.
“This is an exciting day for IWC Food Service, and we look forward to combining the strengths of our two companies at close to continue bringing our valued customers the service, solutions and tools they need to help them thrive and succeed,” IWC President Bob Mackie said in a release.
The acquisition must undergo federal regulatory approval.
