Master Wholesale and Vending Supply, Inc. based in Jackson, Wis., has entered into an agreement to acquire Jones Vend and OCS Distributing, Inc. of St. Louis, Mo. The transaction is expected to close by the end of January.
Through this acquisition, Master Wholesale, which was started by owner Randy Groth in 1988, will significantly expand its geographic coverage throughout the Midwest and South. In addition to its current distribution facilities in Milwaukee, Wis. and Minneapolis, Minn., Master Wholesale will add distribution facilities in St. Louis, Mo.; Kansas City, Mo. and Dallas, Texas.
“We have significantly grown our business in the upper Midwest in the past ten years and the acquisition of Jones allows us to continue with our growth plans in the Midwest and now the South! We were kind of landlocked with our expansion and this allows many new doors to be opened,” said Groth, president of Master Wholesale, in a prepared statement.
After over 42 years of service in the industry, Larry and Pat Jones plan to retire once the acquisition is finalized. “Although I am retiring, I am excited about this acquisition by Master Wholesale. It will provide many opportunities to grow for my former employees and customers and it will allow the new company to be a major vending distributor in the Midwest,” said Larry Jones.
Jane Jones will become vice president/general manager of the Jones portion of the business and the remainder of the Jones family will continue to be employed by the company.