US: Charmer Sunbelt Group offloads Distinctive to Southern W&S
The Charmer Sunbelt Group (CSG) has sold Chicago-based Distinctive Wines & Spirits to Southern Wine & Spirits of America.
CSG confirmed late last week that it will divest Distinctive to Southern at the end of next month. Financial details surrounding the transaction were not disclosed.
"This acquisition continues our drive to build on and further enhance our already strong presence in Illinois, which is one of the top five wine and spirits markets in the US," said Southern's president and COO, Wayne Chaplin. "We know this important acquisition will enable our ... Illinois Signature Fine Wine Division to significantly add to its ... portfolio and simultaneously help us to better serve the ... needs of both our on- and off-premise customers as well as our current and new supplier partners."
Charles Merinoff, vice chairman and CEO of CSG, added: "Although we are extremely proud of the services (Distinctive) has delivered to our suppliers and customers who do business in Illinois, the volume of business does not justify our continued presence.
"While exploring several options, we engaged in talks with Southern Wine & Spirits. With a significant presence in the luxury market in Illinois already, the purchase of Distinctive's product line became an attractive possibility for them.
"Although we are disappointed to separate from our valued team, this transaction is clearly in the best interests of both organisations," Merinoff continued.
Mike Thompson, the current vice president and general manager of Southern's Signature Fine Wine division in Illinois, will head up the newly expanded division.
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