Southern Wine & Spirits of America signs letter of intent to acquire Minnesota-based wine and liquor distributor Quality Wine & Spirits
February 21, 2012
– Wayne E. Chaplin, President & Chief Operating Officer of Southern Wine & Spirits of America, Inc. (Southern), and Jack Goldenberg, Owner of Quality Wine & Spirits Co. (Quality), jointly announced today the signing of a letter of intent for Southern to acquire certain assets of Quality.
“Beneficiaries of this transaction will not only be the local Minnesota trade, but also the numerous suppliers that Quality and Southern share—not only within this great state but across the United States as well.”
Quality, the 76-year-old wine and spirits wholesaling icon of Minnesota, upon completion of the transaction will be acquired by Southern — the country’s leading wine and spirits distributor – through its Minnesota joint venture, Southern Wine & Spirits of Minnesota (SWS of Minnesota). After extensive discussions, both companies recognized the complementary and synergistic natures of their supplier portfolios—joined by a common commitment to provide the highest-quality sales and brand-building services to their trade customers and suppliers alike.
Commenting on the transaction for Quality, Goldenberg said, “Quality has a state-wide reputation with both suppliers and customers that is without peer. This transaction is in recognition of changing times as well as our desire to ensure the continuance of our brand stewardship.” Goldenberg added, “We believe that with Southern brings an existing strong presence in Minnesota, industry-leading operational efficiencies and effectiveness, and extensive capabilities in sales and service.” Goldenberg continued by saying, “We are very pleased that the transaction with Southern is the culmination of 75 years of a successful independent wholesale wine and spirits company. Together with Southern, we look forward to continue to serve the Minnesota wine and spirits community for another 75 years.”
Chaplin added, “Jack and his team have not only had a longstanding reputation in Minnesota; their reputation is known across the country for superior brand building and for outstanding service to customers and suppliers alike. We are honored to have reached an agreement in principle with Quality through our SWS of Minnesota joint venture, and we look forward to continuing and extending our efforts in the state by leveraging our leading strategy and highly-trained and dedicated in-market personnel.” Chaplin further commented, “Beneficiaries of this transaction will not only be the local Minnesota trade, but also the numerous suppliers that Quality and Southern share—not only within this great state but across the United States as well.”
The transaction is pending final agreement with closing expected in March 2012.
About Quality Wine & Spirits Co.
Quality Wine & Spirits Co. is a private, family-owned wholesale wine and liquor distributor that has been in business since 1946, and employs more than 150 people. With facilities in Minneapolis, Minnesota, Quality is perfectly suited to easily access all accounts throughout the state. As a mid-sized wholesaler, Quality combines an excellence in warehouse management with a sales force that offers a depth of experience and strength of expertise in the wine and spirits industry. Quality offers the volume and operational efficiency of bigger wholesalers combined with the relationship service approach true to the company’s family-oriented roots. Quality is dedicated to moving products efficiently and cost effectively from suppliers to retailers, quickly putting products in the hands of the end consumer. For more information on Quality, please visit: http://www.qwsco.com.
About Southern Wine & Spirits of America, Inc.
Southern Wine & Spirits of America, Inc. is the nation’s largest wine and spirits distributor and broker with operations in 35 markets. On a national basis, Southern Wine & Spirits of America, Inc. employs more than 12,500 team members. For more information on Southern Wine and Spirits, visit: http://www.southernwine.com.
Southern Wine & Spirits of Minnesota is a Joint Venture of Southern Wine & Spirits of America, Inc. and JJ Taylor Companies, Inc. (JJ Taylor), a leading malt beverage distributor. Today, with operations in Minnesota and Florida, JJ Taylor is one of the top-ten beer distributors in the United States. For more information contact: http://www.jjtaylor.com.
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