HESCO Acquires Packers Supply Company

WAVERLY, Fla., March 2, 2011 /PRNewswire/ -- HESCO (Highland-Exchange Service Cooperative), Florida's leading operating inventory replenishment firm, today announced that it has acquired selected assets of Ft. Pierce-based Packers Supply Company, Inc. Included in the purchase are the existing inventories, the delivery fleet, and most other tangible assets. 

In announcing the purchase, Gap Kovach, HESCO's Chief Executive Officer, acknowledged the impressive support Packers Supply has provided to the Florida citrus industry for more than a half century.

"We intend to continue the tradition of service-based, competitively-priced supply provision, much in the same mold to which HESCO has been committed since the 1972 merger of Exchange Supply Company and Highland Crate Cooperative," Kovach said.

HESCO currently operates a 75,000 square foot warehouse and office complex strategically located in Waverly, FL, with a team of two dozen employees, a large fleet of all sizes of rolling stock, and $6 million of inventory.

Mike McGee, former Operations Manager for Packers Supply, has joined the HESCO Sales and Service team and is expected to be instrumental in helping customers benefit from the expansive HESCO product portfolio, online store, and reputation for exceptional service.

About HESCO

HESCO began as a membership-based cooperative servicing growers and packers in the citrus industry. The Company has expanded in recent years to become a leading Florida supplier of industrial adhesives, packing films, wraps and other materials, and janitorial supplies, as well as the State's only authorized distributor of MacroBins®.  Serving both cooperative members and Registered Buyers across 5 southern states and California, HESCO uses its buying power to negotiate favorable purchasing arrangements, then receives, stores and redistributes those supplies on a just-in-time basis, reducing delivery lead times, prices and storage costs/space for operating inventory. More information is available at www.hesco-fl.com.

SOURCE HESCO