Yancey Signs Letter for Carlton Co. Assets

Mon October 14, 2002 - Southeast Edition
CEG




Yancey Bros. Co., the Caterpillar dealership serving the northern half of Georgia, announced on Monday, Oct. 7, that it has signed a non-binding Letter of Intent to acquire certain assets of Carlton Company, the Albany, GA,-based Caterpillar dealership that serves the southern half of Georgia. The closing of the transaction is subject to execution of a definitive purchase agreement, regulatory and other approvals and satisfaction of other closing conditions.

The two companies are currently working to complete a definitive purchase agreement. Subject to satisfaction of closing conditions, management of the two companies expects to complete this transaction within the next 60 days. Additional information will be forthcoming at that time.

Headquartered in Albany, Carlton Company was formed in 1951 by the late O. D. Carlton II who served as chairman until 2000. In addition to Albany, Carlton serves customers with facilities in Brunswick, Byron, Dublin, Savannah and Valdosta.

Yancey Bros. Co., formed in 1914 as Yancey Hardware Company, is one of the nation’s oldest Cat dealers. The company is headquartered in Austell, GA, and operates facilities in Atlanta, Augusta, Calhoun, Columbus, Cumming, Dacula, Jefferson, Kennesaw, Macon and Resaca.

For more information visit www.YanceyBros.com. or www.CarltonCo.com.