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Wal-Mart Sells Distribution Businesses
May 5, 2003
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Wal-Mart Stores Inc. is selling its distribution businesses McLane Co. and Merit Distribution Services for about U.S. $1.5 billion to concentrate on its core retail operations. Wal-Mart, the world's largest retailer, said it has agreed to sell its McLane distribution subsidiary to Omaha, NE, U.S.-based Berkshire Hathaway Inc., headed by Warren Buffett. Merit, a McLane subsidiary, is being sold separately to Swift Transportation Co. Inc. of Phoenix, AZ, U.S., for $50 million. McLane is a Temple, TX, U.S.-based wholesale distributor of groceries, tobacco and other nonfood items to convenience stores, drug stores, wholesale clubs, mass merchandisers, quick service restaurants, theaters, and others. McLane, which has 14,500 workers, distributes merchandise to Wal-Mart and Sam's Club stores, but the company's own massive distribution network will not be affected by the sale, Wal-Mart spokesman Tom Williams said. (Reuters)

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