Richey Electronics to Acquire Other Distributor

Richey Electronics Inc., a distributor of electronics products, said that it has agreed to acquire Deanco Inc., an electronics distribution company based in Santa Clara.

The transaction, which is expected to close by the end of the year, will create a company that ranks as one of the 20 largest electronics distributors in the United States, with 27 sales offices in 17 states, the companies said.

Deanco, a privately held company, had sales of $77.8 million for the first nine months of 1995, while Richey reported sales of $83.7 million.

Richey agreed to assume Deanco debt of about $24 million and redeem $6 million in stockholder notes, for an aggregate purchase price of $30 million.

William C. Cacciatore, chief executive of Richey, said the acquisition will create “future opportunity for internal and acquisition growth.”