US: National Wine & Spirits plans Illinois buy-out
National Wine Spirits is looking to buy a distributor out of its contract in Illinois.
The Indianapolis-based company said late last week that NWS-Illinois has offered to buy Glazer's Distributors of Illinois out of its management services contract in the state, as detailed in the agreement between them since 2003.
The Glazers have been given until 17 August to respond, or NWS-Illinois will buy them out. The company said that NWS-Illinois will continue to focus on wine and spirits, divesting of its beer distribution rights.
Late last month, the distributor posted a doubling of income for the year to 31 March, coming in at US$5.4m. Revenues for the period were up by 30% to US$717.6m thanks to sales in Illinois after the acquisition of local wholesaler Johnson Brothers in 2005.
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