Dallas-based Glazer’s Inc. has signed a definitive agreement to acquire the majority control of Memphis, Tenn.-based Star Distributing Co., which distributes wine, spirits and specialty items in Memphis for national companies including Diageo North America, Bacardi U.S.A. Inc., Sazerac Co. Inc., Treasury Wine Estates, Möet Hennessy USA, Brown-Forman Corp., Constellation Brands Inc., Beam Inc., Imperial Brands Inc., Luxco, Freixenet USA, Aveniu Brands, Jordan, and Vineyard Brands.
“Glazer’s is excited about our agreement to acquire the majority control of Star,” said Sheldon “Shelly” Stein, president and chief executive officer of Glazer’s, in a statement. “As we have stated, our overall corporate strategy is to aggressively expand our footprint in the beverage distribution business, and when this acquisition is complete, we will have a significant market presence in Memphis.”
Star Distributing President Al LaRocca added: “We are excited to become part of Glazer’s and are happy to be working with Shelly, Scott Rawlings, and the entire Glazer’s management team. We are looking forward to growing our business as part of Glazer’s, and know that this move will be beneficial for our customers and suppliers.”
Consummation of the acquisition is subject to normal and customary conditions and approvals.