JACKSONVILLE, Fla., Jan. 28, 2011 (GLOBE NEWSWIRE) -- Interline Brands, Inc. (NYSE:IBI) ("Interline" or the "Company"), a leading distributor and direct marketer of maintenance, repair and operations ("MRO") products, announced today that it has acquired substantially all of the assets of Northern Colorado Paper, Inc. ("NCP"), a distributor of janitorial and sanitation ("Jan-San") supplies for approximately $9.5 million in cash.
Founded in 1978, NCP is a leading regional Jan-San distributor headquartered in Greeley, Colorado, primarily serving institutional facilities in the healthcare, education and food service segments. NCP generated approximately $40 million in revenue in 2010 and has approximately 115 full-time employees.
Michael J. Grebe, Interline's Chairman and Chief Executive Officer commented, "The acquisition of NCP is consistent with our strategy of acquiring businesses with leadership positions in attractive markets and complements our recent acquisition of CleanSource. In particular, this transaction further enhances our presence and scale in the Western United States and builds on our leading position in the Jan-San space. We expect this acquisition to be accretive to earnings in 2011 by $0.01 to $0.02 per share."
The Company will discuss the NCP acquisition in more detail on its upcoming fourth quarter 2010 earnings call and webcast.
About Interline
Interline Brands, Inc. is a leading distributor and direct marketer with headquarters in Jacksonville, Florida. Interline provides maintenance, repair and operations products to a diversified customer base made up of facilities maintenance professionals, professional contractors, and specialty distributors primarily throughout North America, Central America and the Caribbean. For more information, visit the Company's website at http://www.interlinebrands.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in, or implied by, forward-looking statements. The Company has tried, whenever possible, to identify these forward-looking statements by using words such as "projects," "anticipates," "believes," "estimates," "expects," "plans," "intends," and similar expressions. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals are also forward-looking statements. The risks and uncertainties involving forward-looking statements include, for example, economic slowdowns, general market conditions, credit market contractions, consumer spending and debt levels, adverse changes in trends in the home improvement and remodeling and home building markets, the failure to realize expected benefits from acquisitions, material facilities systems disruptions and shutdowns, the failure to locate, acquire and integrate acquisition candidates, commodity price risk, foreign currency exchange risk, interest rate risk, the dependence on key employees and other risks described in the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 24, 2010 and in the Company's Annual Report on Form 10-K for the fiscal year ended December 25, 2009. These statements reflect the Company's current beliefs and are based upon information currently available to it. Be advised that developments subsequent to this release are likely to cause these statements to become outdated with the passage of time.