BOISE CASCADE PURCHASES FREDERICK-SHERRY OFFICE SUPPLY CO.
BOISE CASCADE PURCHASES FREDERICK-SHERRY OFFICE SUPPLY CO. BOISE, Idaho, Nov. 2 /PRNewswire/ -- Boise Cascade Corp. (NYSE: BCC) announced today that it has purchased the Frederick-Sherry Office Supply Company of Minneapolis. Terms of the transaction were not disclosed. Frederick-Sherry sells a full range of office products directly to consumer accounts in the greater Minneapolis-St. Paul metropolitan area. The consumer market includes businesses, government agencies, schools, hospitals and other institutional end users of office supplies. Frederick-Sherry's sales in 1991 totaled $15 million. Boise Cascade sold its office products wholesale operations in early 1992 and is now the only national distributor of office supplies to the consumer market in the United States. Boise Cascade's sales of office products to consumers totaled $675 million in 1991. Since the first of this year, the company has expanded into three new geographies, bringing to 23 the number of Boise Cascade office products distribution facilities in the United States. In addition to Minnesota, new geographies served by the company's office products business include Florida and the southeastern states of North Carolina, South Carolina and Georgia. E. Thomas Edquist, senior vice president and general manager of Boise Cascade's office products business, said "Boise Cascade's purchase of Frederick-Sherry is a real plus for institutional end users of office products. Existing customers of Frederick-Sherry will continue to receive the excellent service, high quality and good value to which they have become accustomed. Additionally, organizations with offices in Minnesota and elsewhere that want to centralize their purchases of office supplies with a nationwide distributor will finally be able to do so." Boise Cascade Corp. is an integrated paper and forest products company headquartered in Boise, Idaho, with operations located in the United States and Canada. The company manufactures and distributes paper and paper products, office products and building products, and owns and manages timberland to support these operations. -0- 11/2/92 /CONTACT: Robert B. Hayes of Boise Cascade, 208-384-7675, or after hours, 208-345-9863/ (BCC) CO: Boise Cascade Corp.; Frederick-Sherry Office Supply Co. ST: Idaho, Minnesota IN: REA SU: TNM
SW -- SE003 -- 1728 11/02/92 15:36 EST
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|Date:||Nov 2, 1992|
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