BERGEN BRUNSWIG MOVING INTO FLORIDA VIA ACQUISITION OF THE ALLEN CO

Executive Summary

BERGEN BRUNSWIG MOVING INTO FLORIDA VIA ACQUISITION OF THE ALLEN CO. for an undisclosed amount of cash, Bergen announced in a Sept. 10 press release. Noting that the purchase of the Florida whslr. marks Bergen's entry into the state, Bergen Chairman Emil Martini stated that the merger was in keeping with the whslr.'s previously announced expansion strategy. Martini noted that the whslr. has indicated its "intention to expand into the Florida marketplace and continue its policy of penetration of the Sunbelt." The merger is expected to be completed by Oct. 1, Bergen added. Based in Orlando, Fla., the Allen Co. had sales of approximately $70 mil. during fiscal 1984 ended June 30, Bergen said. Allen's primary distribution area is Central Florida. Allen management will remain with the firm following the merger, Bergen said. At an analyst meeting in July, Martini reported that Bergen was ready to re-enter the acquisition market after a slowdown in the company's merger activity over the past year. At that time Martini predicted: "I would be very surprised if we didn't announce a meaningful acquisition before the end of this calendar year."