US: Southern ups US control state presence
Southern Wine & Spirits of America is set to expand into the US control state of Ohio.
The distributor confirmed today (17 July) that it will acquire the Paramount Distillers Brokerage operations of Paramount Distillers, which is based in Cleveland in the state. Financial details of the transaction were not disclosed, but Southern said the deal should close at the end of this month.
In the US, a control state is one where there is a state monopoly over the wholesale or retail of certain categories of beverage alcohol.
"Now with Ohio joining our Control States Group, we will be present in 15 of the 18 control state jurisdictions in the US, which is more than any other wine and spirits distribution company in the business," said Wayne Chaplin, Southern's president and COO. "We envision Ohio playing a strategic role in our overall control state business, as it represents the third largest control state market in the US in distilled spirits sales."
Robert Manchick, chairman of Paramount Distillers, added: "Our company has been operating in this market since 1934 and we are honoured and confident in entrusting the future of our brokerage organisation to the Southern Wine & Spirits of America team. We are certain in their ability to take the business to the next level on behalf of our suppliers and the state of Ohio, which we are proud to serve."
Manchick will continue in his current capacity, Southern noted.
Southern is the largest wine and spirits distributor in the US, with operations in 28 states, including this transaction.
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