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Lindenmeyr Munroe to acquire Hudson City division of Frank Parsons

Press release from the issuing company

PURCHASE, NY - Central National-Gottesman Inc. today announced that its Lindenmeyr Munroe division has signed a letter of intent to acquire the Hudson City division of Frank Parsons, Inc., based in West Caldwell, NJ. The acquisition is expected to close on or before December 31, 2009.

"The Hudson City division of Frank Parsons, Inc. has a long and successful history as one of the preferred paper suppliers in the metropolitan New York area," said Ken Wallach, Chairman and Chief Executive Officer of Central National-Gottesman Inc. "We look forward to combining the excellent resources of the Hudson City division with our New York sales and support group, located in our state-of-the-art regional distribution center in Moonachie, New Jersey. This acquisition will strengthen Lindenmeyr Munroe's leading position in the important New York market and underscores our continued commitment to expand our paper distribution business, both internally and through strategic acquisitions."