Grocers Supply Co., an Indianapolis-based wholesale distributor of grocery products, has purchased the assets of K Enterprises in Danville.
Terms of the deal were not disclosed.
Grocers Supply President Scott Weaver said K Enterprises, a wholesale distributor to independent convenience and liquor stores, was financially “distressed” and that his company bought the assets from its bank.
The addition of K Enterprises’ customers expands Grocers Supply’s clientele to more than 800 in five Midwestern states.
Founded in 1938, Grocers Supply has 80 employees and annual revenue of more than $60 million. Its 260,000-square-foot warehouse and headquarters is located on the west side near Interstates 70 and 465.
K Enterprises had 12 employees and roughly $2 million in annual revenue. Weaver said some of the employees, excluding executives, will join Grocers Supply.