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PTRY > SEC Filings for PTRY > Form 8-K on 31-Mar-2014All Recent SEC Filings

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Form 8-K for PANTRY INC


Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement.

On March 25, 2014, The Pantry, Inc. (the "Company) entered into a Distribution Service Agreement (the "Agreement") with McLane Company, Inc. ("McLane"). The Agreement, which will become effective upon the implementation of certain internal system changes required by McLane to accommodate the terms of the Agreement, will replace the Distribution Service Agreement dated August 1, 2008, as amended, between the parties. The Agreement is expected to be effective in early May, 2014 and will remain in effect until December 31, 2019 unless sooner terminated in accordance with its terms.

Subject to specified exceptions, the Agreement provides for the Company's continued purchase from McLane of the Company's requirements for all categories of food and non-food general merchandise products, including cigarettes and tobacco products, offered by McLane and customarily supplied by convenience food wholesalers. The Agreement contains provisions relating to product ordering and delivery, price and payment terms, service standards that must be satisfied by McLane and default and other provisions customarily contained in supply agreements.

The Company purchased 56% of its merchandise, including most grocery and tobacco products, from McLane during fiscal 2013 and that percentage is not expected to change materially under the Agreement.

This summary is not meant to be complete and is qualified in its entirety by reference to the Agreement, a copy of which the Company intends to file as an exhibit to its Quarterly Report on Form 10-Q for the fiscal quarter ending March 27, 2014.

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