The Underwood family's Wilson Daniels Wholesale, New York, has agreed to acquire Portland, Ore.-based Galaxy Wine Co. from its founders, Matt Elsen and Bob Liner.
Following the closing of the acquisition, Galaxy Wine will be operated under the wholesale division of fine wine importer Wilson Daniels LLC, a wholly owned subsidiary of Young's Holdings, and Messrs. Elsen and Liner will continue to lead Galaxy's existing team of salespeople, the company says.
Following the closing of the acquisition, Galaxy Wine will continue to operate independently, as a sister company to Wilson Daniels Wholesale in New York, under the leadership of Rocco Lombardo, president of Wilson Daniels.
"We're very proud to acquire Galaxy Wine Co., with its extraordinary team of wine professionals serving many storied brands," Lombardo said in a statement. “Over the course of nearly two decades, Galaxy has garnered a reputation for offering high quality wines, knowledgeable staff and unrivaled customer service, bringing more than 400 producers from around the world to the state of Oregon. At Wilson Daniels, our goal for the past 40 years has been to seek out and bring the finest wines in the world to the United States market. At Wilson Daniels Wholesale, our mission is the same, and Galaxy's founders and employees share that mission and our passion for fine wine."
Galaxy's Elsen and Liner echoed a similar sentiment. In a combined statement, Elsen and Liner said:
"We are immensely proud to announce the acquisition of our company and thrilled to be part of the Wilson Daniels Wholesale family. This is a gratifying culmination to almost 20 years in the wine industry. Since our inception, our goals have been to deliver an unparalleled level of service, build an impeccable portfolio and represent our wines faithfully. Thanks to our employees, who will enjoy long-term stability and greater resources, we have succeeded. By drawing on Wilson Daniels' formidable experience, we can better meet the increasing demands of the marketplace and continue to grow and excel. We look forward to contributing to Wilson Daniels Wholesale Company's continued achievements."
The acquisition of Galaxy Wine Co. further extends the Underwood family's investment in fine wine distribution. "I'm committed to protecting the legacy of what Matt and Bob have built in Galaxy Wine Co.,” said Chris Underwood, chief executive officer of Young’s Holdings, in a statement. “At the same time, I believe the focus and dedication that Wilson Daniels brings to fine wine is unparalleled, and we will continue to invest in expanding Wilson Daniels' distribution capability.”
Subject to usual and customary closing conditions, the transaction is anticipated to close in the second quarter of 2018, the company says.