The Federal Trade Commission cleared the proposed joint venture partnership between Republic National Distributing Co. (RNDC) and Young’s Market Co. (Young’s), the companies said. The combined company will serve customers in 32 states and the District of Columbia.
RNDC leadership will manage the day-to-day operations upon completion of the deal.
“We are very excited about the future of our company,” said Tom Cole, Chief Executive Officer, RNDC. “With our expanded footprint, our ability to serve suppliers and customers expands, too. This partnership, plus our investment in technology, will help meet and surpass the expectations of our suppliers and customers in every way.”
“This is a new and exciting chapter for our company,” said Chris Underwood, Chief Executive Officer, Young’s Market Company. “Combining forces with a proven and well-respected partner like RNDC allows Young’s to improve upon the best-in-class service we are known for in the industry. Our expanded partnership positions us to effectively compete in the growing marketplace in the years to come.”
The deal is expected to close in the third quarter of this year.