As a result of the acquisition, a new company, TopSource LLC, has been formed (as a wholly-owned subsidiary of Topco Associates LLC) through which all future NFR activities will be conducted. This includes Topco's Equipment & Supplies and Business Services programs as well as the existing customer base of BrainTree. The acquisition provides Topco the ability to go to market with significantly increased volume and leverages the combined category expertise and talent of both organizations.
"Topco is excited to offer these expanded procurement capabilities to its member-owners and customers. The addition of the BrainTree Sourcing associates, with their broad range of strategic and industry experience, offers an excellent opportunity to build upon the momentum of Topco's existing NFR programs," stated Steve Lauer, President and CEO of Topco Associates LLC.
As the company integrates these two businesses, BrainTree's current management team, led by Nancy McDermott (Senior Vice President) and Dave Picarillo (Vice President), will remain in place and become responsible for the combined TopSource business unit. "We are especially pleased with the quality of the BrainTree associates who will be joining the Topco team," said Lauer. "All of us are committed to provide complete continuity of service to our members and customers during the transition without any disruption."
Topco Associates LLC specializes in aggregating the multi-billion dollar purchases of its members and customers in the procurement of a broad range of products and services in the areas of private label, perishables, not-for-resale, and national brands.