FOR IMMEDIATE RELEASE
Contact: Bill Herbst
SAS ANNOUNCES SALE OF STOCK TO IMPERIAL TRADING CO.
The newly merged company will become the fifth largest convenience store distributor in the U.S.
GRAND RAPIDS, MI – July 2, 2018 – The following information has been shared with S. Abraham & Sons (SAS) employees.
Imperial Trading Co. (Imperial) of Louisiana has purchased the stock of GRAD, Inc., parent company of S. Abraham & Sons (SAS) of Grand Rapids, MI. SAS will continue in business, operating as S. Abraham & Sons. The SAS corporate office and distribution centers located in Grand Rapids and Indianapolis will continue to service all customers with no interruption. All SAS associates will maintain their respective positions. The merged company will become the fifth largest convenience store distributor in the United States, with service capabilities from the US/Canadian border to the Gulf of Mexico. Imperial and SAS will now supply more than 5,000 retail locations.
“With the expansion of our geography and capabilities, Imperial and SAS are positioned to grow exponentially by leveraging our collective strengths in a way that retailers will be offered a greater option that they have been afforded in the past,” commented John Georges, owner of Imperial Trading Co.
Jerry Abraham has been named president of SAS. Alan Abraham will serve in an advisory capacity. Wayne Baquet will continue his role as President and CEO of Imperial.
The two organizations share a lot of similar history and culture. Imperial was founded by C. H. Pelias, a Greek immigrant, more than 100 years ago. Pelias is the grandfather of John Georges, the current owner of Imperial. SAS was founded by Sleyman Abraham, a Lebanese immigrant, more than 90 years ago. Imperial services retailers in nine southern states and SAS supplies retailers in eight midwestern states. Both companies have been successful for the same reason – great employees who put the customer first and strive to provide exemplary service.
“As we looked at opportunities for the future of our company, we sought a like-minded company with similar core values and marketing philosophies. We found them in Imperial Trading Company,” said Alan Abraham. “The merged company will continue to have a major presence in servicing the convenience store community and our focus will remain customer satisfaction,” added Jerry Abraham.
“In our desire to continue and expand our growth capabilities, we found the perfect fit for us in SAS”, stated Wayne Baquet. “SAS is a leader in the Midwest, providing marketing, technology and distribution solutions for their customers. We are excited to join forces and share best practices to grow our market share.”
Greenwich Capital Group LLC acted as the exclusive financial advisor to S. Abraham and Sons. BKD Corporate Finance LLC (“BKDCF”) acted as the exclusive financial advisor to the buyer, Imperial Trading Company. In conjunction with BKDCF, BKD Transaction Services Practice assisted with the financial due diligence.