Southern Wine & Spirits to acquire Quality Wine & Spirits
Southern Wine & Spirits of America has signed a letter of intent to purchase certain assets of Bloomington-based wholesale wine and spirits distributor Quality Wine and Spirits.
Upon completion of the transaction, Quality will be acquired by Southern Wine & Spirits of Minnesota (SWS of Minnesota), the Minnesota joint venture of SWS and JJ Taylor Companies
Quality CEO Jack Goldenberg said the transaction is in recognition of changing times as well as the company's desire to ensure the continuance of its brand stewardship.
Goldenberg believes that Southern brings an existing strong presence in Minnesota, operational efficiencies and effectiveness, and extensive capabilities in sales and service.
"Together with Southern, we look forward to continue to serve the Minnesota wine and spirits community for another 75 years," Goldenberg added.
Southern Wine & Spirits of America COO Wayne Chaplin said beneficiaries of the 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 US as well.
The transaction is expected to close in March 2012.
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