Breaking: C&S bids to acquire AWI, White Rose in Chapter 11

The offer for AWI and White Rose is subject to higher and better offers in an auction to be conducted by U.S. Bankruptcy Court.

Associated Wholesalers Inc. said Tuesday that it had entered into an agreement with C&S Wholesale Grocers whereby C&S would be the "stalking horse" bidder in an auction of AWI and its subsidiaries in U.S. Bankruptcy Court.

The offer is subject to potentially higher or better offers. AWI and its subsidiaries on Tuesday filed Chapter 11 petitions in Delaware, which the companies said would allow for an orderly sale. 

AWI, a cooperative wholesaler based in

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