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A deal to bite into.

A Deal To Bite Into

Stewart Sandwiches has been folded into ASCO Vending following a $225,000 real deal. Gerald Scott, ASCO GM, is now the owner of the companies after buying out Charles Arnold.

"I will still be active from a business advisory standpoint," remarks Arnold.

ASCO is a 16-year-old enterprise servicing vending machines primarily in Pulaski County. Stewart Sandwich Co., which had supplied product for ASCO, services schools and other institutional customers around the state. The company dates back to 1956.

The two Little Rock firms are located on Garland just east of the Colonial bakery. The Stewart Sandwich property changed hands for $50,000 ($10.20 per SF), financed with a 10-year note carried by Arnold.

Scott bought Arnold's 72 percent interest in the ASCO property across the street for $175,000 (about $5 per SF). Arnold financed $125,000 of the sale price with a 10-year note. The property sold for $170,000 in 1979.
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Title Annotation:RealDeals
Author:Waldon, George
Publication:Arkansas Business
Date:Nov 12, 1990
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