AM Distributors, based in Chicago and led by principal George McGoldrick, has been purchased by Mid-State Distributing Co, Des Moines, IA for an undisclosed sum.
The sale last week makes Mid-State, a member of the Elite Distributor Alliance buying group, one of the largest distributors in the midwest.
The $30 million company, now becomes a $40 to $50 million distributor, said Mid-State.
Mid-State is a Pioneer and Sony distributor that now also picks up brands including JVC, Kenwood, Rockford, Kicker and Weathertech.
McGoldrick and all AM Distributor principals will continue with the company, said Mid-State President Jeff Hedden. AM Distributor dealers can expect business as usual, with the eventual opportunity to buy more product lines.
The deal extends Mid-State’s territory in Illinois, Wisconsin and Indiana.
“It’s an emotional time for AMD to be acquired after 31 years, but I am extremely excited about the opportunities it brings both companies. With the combined sales forces and 5 facilities in the Midwest the benefits for the dealers are endless,” said McGoldrick.
Mid-State has 4 stocking warehouses in Des Moines, IA (headquarters); Fargo, ND, Omaha, NE; Mikwaukee, WI; and Chicago. It now adds, the AM Distributors facility in Chicago.
Mid-State was founded in 1948 as a distributor of consumer electronics and service parts.
AM Distributors was established in April, 1987 offering mobile security products. It expanded into other 12 volt products and then, in 2005, it added home audio and home theater products.
A.M Distributor is my best a most used company to purchase wholesale electronics from. I’ve been dealing with them for over 20 years and nothing but good things to say. I wish them the best and hope the new owners will continue the legacy.