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FOR ADDITIONAL INFORMATION CONTACT:
AMERISERVE: DAVID MARGULIES/JIM LAWRENCE
(214) 368-0909 (800) 710-5292 (PAGER)
SALE OF AMERISERVE TO MCLANE COMPANY IS FINALIZED
Addison, Texas (Dec. 1, 2000) -- AmeriServe Food Distribution, Inc.
announced today that it has closed the sale of substantially all of its U.S.
operating assets to McLane Company, Inc., bringing to a conclusion one of the
largest Chapter 11 cases of the year. Under the ownership of McLane, the
operation will be called McLane Foodservice.
"We are very pleased to announce this successful resolution for
AmeriServe," said Ron Rittenmeyer, AmeriServe president and chief executive
officer. "I want to express my deep gratitude to the employees, customers,
creditors and suppliers who helped us get to this point through their hard work
and patience. Thanks to their dedication and an outstanding team effort, we are
able to announce today a new and exciting course for AmeriServe, only ten months
after the bankruptcy petition was filed."
AmeriServe was one of the nation's largest distributors to quick service
restaurants such as KFC, Long John Silver's, Pizza Hut and Taco Bell when it
filed a Chapter 11 petition on January 31, 2000. The company subsequently hired
Rittenmeyer, who has a solid track record of leading distressed companies to
positive solutions, to guide AmeriServe through the challenging process of
restructuring.
"Today we celebrate the future of the operation under the McLane banner,
and we look forward to an orderly transition of ownership that will maintain the
high quality of service our customers deserve," Rittenmeyer said.
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