distributor of convenience store merchandise and sundries

$4,000M Revenue

Company Overview

The Company is the 3rd largest wholesale distributor of tobacco, candy, groceries and other products to convenience stores, drug stores and other mass merchandisers in the US. 

The Company carries over 11,000 products and the annual revenue is over $4B.

Engagement Overview

The Company’s bank requested that it find a new lender. FDP was retained to review the Company’s business plan and assist in raising new financing.

Identified and implemented nearly $15 million in strategic and tactical initiatives to restore profitability:

–Multi-million dollar price increase with largest customer, resulting from FDP’s customer profitability analysis;

–Targeted non-commodity price increase strategy;

–Promoted aggressive sales calling plan to generate new volume;

–$5 million expense reduction program; and

–Identified opportunity to optimize promotional merchandise inventory leading to $2 million profit improvement.

Analyzed profitability by customer, for major customers, and worked with management to develop plans to increase margin and improve cash flow.

Assisted management with operational initiatives including:

–Video review of customer shipments to reduce shortage claims; and

–Installation of “back stock” inventory locator system at each DC.

Identified and solicited proposals from numerous prospective lenders.

Coached management on presentations to prospective lenders and assisted in negotiations with lenders.


Identified and implemented nearly $15 million in strategic and tactical initiatives to restore profitability.

Turnaround plan was well received by lenders; banks that initially sought to exit the credit participated in the new line.

Secured $150 million line of credit.

A senior officer of Fort Dearborn now sits on the Financial Advisory Board of the Company.

FDP News

Apr - 23

Fort Dearborn advises Reliable Knitting Works

Fort Dearborn Partners served as the exclusive financial advisor for the refinancing of Reliable Knitting Works, a $125 Million Wisconsin-based Company.

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Oct - 22

Alice Chan joins Fort Dearborn Partners

Fort Dearborn Partners is pleased to announce that Alice Chan has joined our firm as a Director.

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Sep - 22

Bears Win Season Opener!

Not even the worst flooding in 2 years could stop the Bears from winning their season opener.

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