Henry Palmer and Patrick F. Madigan were wholesale dealers in domestic and foreign wines, liquors, etc., and were located at 16-18 Pine Street, Providence in 1867. A few years later they were also located at 116 Eddy Street and 86 Dorrence Street. By 1871 they had branched out again, with a new store located at 20 Custom House Street.

About 1876, Palmer opened a grocery store at 102 High Street and a year later converted it into a liquor store. Soon after, Palmer and Madigan combined their operations into one location at the corner of Hay and Friendship Streets in Providence.

Henry Palmer died in 1881 and George E. Palmer took over his position with the company. Patrick Madigan died in 1890 and his position was taken over by John M. Madigan.

In 1918, George Palmer died and the company went out of business shortly after.