Core-Mark Announces Supply Chain Contract Extension with MAPCO

Globe Newswire 9-Jan-2019 8:30 AM

SOUTH SAN FRANCISCO, Calif., Jan. 09, 2019 (GLOBE NEWSWIRE) -- Core-Mark Holding Company, Inc. (NASDAQ:CORE) announced today it has extended its supply agreement for five years with MAPCO. Core-Mark is currently serving more than 345 MAPCO corporate owned stores in seven states, primarily in the Southern region of the country.

"The Core-Mark team is excited to extend our partnership with MAPCO. We look forward to working with this best in class retailer by broadening their excellent food offerings and streamlining their product sourcing while also providing first-rate service," said Bill Stein, Senior Vice President of Enterprise Growth for Core-Mark.

"The Core-Mark team has been an excellent strategic partner for MAPCO and assisted us in expanding our instore offerings. We look forward to working together to achieve our mutual goals of profitable growth, efficient operations and superior execution for our stores and our customers," said Keith Slater, Vice President of Procurement for MAPCO.

This long term partnership has developed over ten years and has supported the strategies of both organizations. This agreement commenced on or about January 1, 2019.

Core-Mark
Core-Mark is one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America. Founded in 1888, Core-Mark offers a full range of products, marketing programs and technology solutions to over 44,000 customer locations in the U.S. and Canada through 32 distribution centers (excluding two distribution facilities the Company operates as a third party logistics provider). Core-Mark services traditional convenience retailers, grocers, big box, supercenter stores, drug, liquor and specialty stores, and other stores that carry convenience products. For more information, please visit www.core-mark.com.

MAPCO
The MAPCO team of over 3,200 dedicated employees deliver Convenience You Can TRUST® in 345 company-owned convenience stores operating primarily in Tennessee, Alabama and Georgia with additional locations in Arkansas, Virginia, Kentucky and Mississippi. Since November of 2016, they have been owned by COPEC, a South American-based retail company.

Forward-Looking Statements

Except for historical information, the statements made in this press release are forward-looking statements made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on certain assumptions or estimates, discuss future expectations, describe future plans and strategies, contain projections of results of operations or of financial conditions or state other forward-looking information. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain.

Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, our actual actions and results could differ materially from those set forth in the forward-looking statements. Forward-looking statements in some cases can be identified by the use of words such as "may," "will," "should," "potential," "intend," "expect," "seek," "anticipate," "estimate," "believe," "could," "would," "project," "predict," "continue," "plan," "propose" or other similar words or expressions. These forward-looking statements are based on the current plans and expectations of our management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Except as required by law, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Ms. Milton Gray Draper
Director of Investor Relations 
650-589-9445 x 3027 
mdraper@core-mark.com