Republic National Distributing Company (RNDC) has lined up another divestment in the US, striking a deal to offload its Arkansas operations.
The agreement will see RNDC sell its operations in the state to local firm Moon Distributors.
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Financial terms of the deal were not disclosed.
Moon Distributors president Harry Hastings Jr. said: “We have tremendous respect for RNDC’s Arkansas team and the business they have built.
“Moon has proudly served Arkansas for more than 90 years, and we look forward to welcoming the talented associates, supplier partners, and customers who have contributed to the success of this business.”
Founded in 1935, Moon Distributors is a family-owned and operated business “with a long history of serving suppliers, retailers and consumers across Arkansas”, the statement said.
The deal is subject to customary closing conditions and regulatory approvals.
Until the deal closes, RNDC and Moon will operate independently. The companies said “no immediate changes” are planned for customers, suppliers or associates.
RNDC president and CEO Marc Sachs said: “We are grateful to our Arkansas associates for the commitment, professionalism, and hard work they have demonstrated over the years.
“This agreement reflects a thoughtful process focused on the Arkansas market, our supplier partners, our customers, and the people who have contributed to the success of this business. As we move through the transition process, our priority remains supporting our associates and maintaining continuity for the partners we serve.”
The Arkansas agreement is RNDC’s latest move in a string of asset sales and proposed transactions.
Last month, Breakthru Beverage Group signed a letter of intent (LOI) to buy the wine and spirits distributor’s interests in Kentucky and Indiana joint venture operations with National Wine & Spirits.
Separately, Quality Brands Distributing reached an agreement on a “potential transaction” for RNDC’s operations in Nebraska, South Dakota and North Dakota.
RNDC also signed an LOI with Columbia Distributing in April involving certain wine and spirits distribution rights in Oregon and Washington.
In March Reyes Beverage Group finalised a deal for RNDC’s operations in ten states and Washington, DC. The deal was completed last month.
