SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): MARCH 20, 1997
CHS ELECTRONICS, INC.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
FLORIDA
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(STATE OR OTHER JURISDICTION OF INCORPORATION)
0-24244 87-0435376
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(COMMISSION FILE NUMBER) (IRS EMPLOYER IDENTIFICATION NO.)
CHS ELECTRONICS, INC.
2153 N.W. 86TH AVENUE
MIAMI, FLORIDA 33122
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICE) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (305) 716-8273
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
On March 20, 1997, CHS Electronics, Inc. (the "Company") completed its
acquisition of the operations of Frank & Walter Computer GmbH ("F&W"), the
fourth largest computer distributor in Germany, for 2.2 million unregistered
shares of the Company's common stock. The Company intends to combine the
operations of F&W, a privately held company based in Brunschwaig, which had 1996
sales of $686 million, with its operation in Germany, which had 1996 sales
(including the sales on a pro forma basis of the German operations recently
acquired from Merisel, Inc.) of $606 million. Carsten Frank, the founder of F&W,
will also become a Company executive vice president responsible for Europe.
F&W has approximately 10,000 active dealers and is one of the largest
distributors of Western Digital and Seagate products in the world. F&W has
approximately 400 employees and operates principally within Germany, and is
focused on distribution to smaller dealers in central Germany. The Company's
German operations have approximately 350 employees and 4,600 active dealers in
Germany, and are focused on distribution to medium and large resellers in the
north and south of the country.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a)&(b) It is currently impractical to provide financial statements,
pro forma or otherwise, required pursuant to Regulation S-K in connection with
the acquisition identified in Item 2 above. This Report will be amended within
60 days from the date this Report is filed to include such financial statement
information.
(c) Exhibits
10.1 Stock Exchange Agreement dated December 19, 1996 between CHS
Electronics, Inc. and Frank & Walter Computer GmbH (incorporated by reference to
Exhibit 10.37 of CHS Electronics, Inc.'s Form 10-K as filed with the Commission
on March 31, 1997)
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CHS ELECTRONICS, INC.
Date: April 4, 1997 By:/s/ CRAIG TOLL
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Craig Toll
Chief Financial Officer and
Treasurer