In a deal expected to close in July 2016, Sam Tell and Son, a New York-based foodservice equipment and supplies dealer, has agreed to acquire certain business assets of Premium Supply Co., another New York-based dealer. Terms of the deal were not disclosed.
As a result of this transaction, Jay Pattinger, CEO of Premium, will join The Sam Tell Companies as an executive vice president and member of the dealer’s executive committee, per a release announcing the deal.
“This acquisition expands our reach in the Northeast and fits perfectly within our long term goals,” said Marc Tell, President of Sam Tell. “Jay and his team have been friendly competitors for decades, and we have always retained a great level of respect for the way they do business and conduct themselves. We are looking forward to learning from them and with them as we grow.”
In 2015, The Sam Tell Companies reported annual revenues of $69.73 million, making it the 24th largest foodservice equipment and supplies dealership, according to FE&S’ 2016 Distribution Giants Study. Premium reported sales of $30.25 million, making it the 49th largest dealer in the country.
This is the Sam Tell Companies’ second major acquisition in the past three years. In 2013 it acquired Paramount. And the dealership may not be done. “Sam Tell will continue to seek partnerships and other strategic acquisitions that fit our model,” said Daniel Saltzman, COO of Sam Tell. “Over the years, we have been involved in a number of acquisitions, and each provided our customer base with an increased level of service. We look forward to a continuation of this approach.”