Liquor Group Acquires Alcohol Distributor in South Carolina
Greenville, SC, July 13, 2010 - Liquor Group Wholesale, Inc. (Publicly Traded: LIQR) once again makes good on their expansion commitment made to shareholders by announcing today the third addition of a new sales territory in the past nine months through the acquisition of a statewide liquor distribution operation in the State of South Carolina.
The acquisition of well known and respected Aardvark Beverage was underwritten by VIGOR Holding Company, an institutional shareholder of LIQR, and brings husband and wife team John & Jennifer Ward and their sales & distribution team into the Liquor Group fold through a five year stock-vesting plan.
"We are really looking forward to working hard to make great things happen!" says Jennifer Ward, Aardvark Managing Member "I think this will be a wonderful opportunity for us all."
Aardvark, a woman & military veteran owned operation currently represents approximately one hundred varieties of liquor and wine products. With the combination of existing South Carolina operations and Liquor Group's thousands of products under distribution management, the newly formed "Liquor Group South Carolina" is now a force in the land of ‘Smiling Faces. Beautiful Places.’.
“These acquisitions are not buy outs…they are buy in’s.” says C. J. Eiras, CEO of Liquor Group Wholesale. The concept of bringing together independent distributors, allowing them to continue to operate their own state business under one umbrella, allowing them the advantage of use of Liquor Group’s Patent-Pending Distribution model and to vest the acquisitions of these companies over five years through stock in the company was first presented by Eiras to the Board of Directors in early 2009. The activity since that approval has been brisk, with more than thirty more acquisitions scheduled or pending, each adding between $1M to $30M in asset value to the organization and increasing overall sales and territory coverage for the company.
The acquisition of well known and respected Aardvark Beverage was underwritten by VIGOR Holding Company, an institutional shareholder of LIQR, and brings husband and wife team John & Jennifer Ward and their sales & distribution team into the Liquor Group fold through a five year stock-vesting plan.
"We are really looking forward to working hard to make great things happen!" says Jennifer Ward, Aardvark Managing Member "I think this will be a wonderful opportunity for us all."
Aardvark, a woman & military veteran owned operation currently represents approximately one hundred varieties of liquor and wine products. With the combination of existing South Carolina operations and Liquor Group's thousands of products under distribution management, the newly formed "Liquor Group South Carolina" is now a force in the land of ‘Smiling Faces. Beautiful Places.’.
“These acquisitions are not buy outs…they are buy in’s.” says C. J. Eiras, CEO of Liquor Group Wholesale. The concept of bringing together independent distributors, allowing them to continue to operate their own state business under one umbrella, allowing them the advantage of use of Liquor Group’s Patent-Pending Distribution model and to vest the acquisitions of these companies over five years through stock in the company was first presented by Eiras to the Board of Directors in early 2009. The activity since that approval has been brisk, with more than thirty more acquisitions scheduled or pending, each adding between $1M to $30M in asset value to the organization and increasing overall sales and territory coverage for the company.
posted by Liquor Group at
9:00 AM
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