Southern Wine & Spirits, Glazer's terminate talks
September 22, 2009
Southern Wine & Spirits of America Inc. and Glazer’s Distributors announced that the two companies have terminated discussions for a strategic collaboration.
Glazer’s Chairman and Chief Executive Officer Bennett Glazer said in a statement, “Following more than a year of wide-ranging planning efforts with Southern Wine & Spirits, we have made the decision that it is in our company’s long-term best interests to end these meetings and discussions. Since August 2008, we have explored numerous options and concepts about how best to forge an association with Southern to generate enhanced value for both companies. However, our decision today has been driven by the sheer complexity of the transaction.”
Glazer added, “We value our personal relationships with the Chaplin Family, hold their management team in high esteem and wish them well in their future endeavors.”
Southern Wine & Spirits Chairman and Chief Executive Officer Harvey R. Chaplin said, “Today’s decision was a very difficult one. We continue to hold the Glazer’s Family â€” and all that their company has accomplished over the last 100 years â€” in high regard.”