[AMERISERVE LOGO]
FOR ADDITIONAL INFORMATION CONTACT:
AMERISERVE: DAVID MARGULIES/JIM LAWRENCE
(214) 368-0909 (800) 710-5292 (PAGER)
AMERISERVE AUCTION CONFIRMS MCLANE AS WINNING BIDDER
Addison, Texas (Oct. 27, 2000) -- AmeriServe Food Distribution, Inc.
announced today that McLane Company, Inc. was the winning bidder in the auction
to sell substantially all of AmeriServe's U.S. distribution assets. The auction
was held yesterday in New York City, and no new bidders appeared.
The sale of AmeriServe's assets to McLane is scheduled for an approval
hearing in the U.S. Bankruptcy Court in Wilmington, Delaware on November 28th,
and the closing is scheduled to occur shortly thereafter (subject to customary
closing conditions).
"Today's progress provides a clearer view of our future, and we thank
all the stakeholders whose hard work, patience and determination have helped
bring us to this point," said Ron Rittenmeyer, AmeriServe's President and Chief
Executive Officer. "Our continuing goal is an orderly transition of ownership
that will serve our creditors, customers and employees well."
McLane Company, headquartered in Temple, Texas, is a major nationwide
distributor to convenience stores, and operates 16 distribution centers in the
United States.
AmeriServe, headquartered in Addison, Texas, a suburb of Dallas, is a
major nationwide distributor specializing in chain restaurants, serving leading
quick service systems such as KFC, Long John Silvers, Pizza Hut and Taco Bell.
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