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McKESSON SERVICE MERCHANDISING WILL BE A $600 MIL. BUSINESS

Executive Summary

McKESSON SERVICE MERCHANDISING WILL BE A $600 MIL. BUSINESS with the acquisition of Millbrook Distributors completed Dec. 2. Millbrook, McKesson's third service merchandising firm, "has sales of about $95 mil.," McKesson noted. In its annual report for 1986, the wholesaler estimates that its other two service merchanding firms, Mass Merchandisers and Rawson Drug & Sundry, will "generate sales in excess of $500 mil." in fiscal 1987 (year ended March 31). Mass Merchandisers, acquired by McKesson in October 1985, had revenues of $394 mil. for fiscal 1986. McKesson's fiscal 1986 service merchandise revenues were $274 mil., which/ includes five months of Mass Merchandizers sales. Rawson revenues were in the $100 mil. range. The acquisition of Leicester, Mass.-based Millbrook will expand McKesson's regional coverage in the service merchandising field. Millbrook adds operations in 11 Northeastern states to McKesson's existing 36-state service merchandising business. "The acquisition represents a major step toward McKesson's objective of becoming a national company in the service merchandising field," the wholesaler said. "With the addition of Millbrook, McKesson's service merchandising division will serve approximately 16,000 retail customers with 20,000 health and beauty aids, housewares and general merchandise items." Millbrook will continue to be managed as a wholly owned subsidiary of McKesson by its founder and president, Morton Sigel. "The 26-year-old company operates from 300,000 square feet of warehouse space in Leicester and Worcester, Massachusetts . . . and distributes health and beauty aids, general merchandise, food specialities and candy to supermarkets and department stores," McKesson said.
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