Southern Wine & Spirits of America has agreed to buy Odom Corp out of the two companies' distribution joint-venture.
The deal ends three years of co-operation between the two firms in the US Pacific Northwest region. It is expected to close by the end of February, said Southern Wine & Spirits of America (SWS) today (19 January), without disclosing financial details.
The move comes as SWS prepares to open a 350,000-square-foot distribution centre in the state of Washington. It is set to open on 1 March.
Following the buyout, SWS’s Pacific Northwest headquarters will be located in Kirkland, Washington. Meanwhile, Odom will remain in its existing Bellevue, Washington headquarters where it will focus on its beer, soft drink and non-alcoholic beverage business in the Northwest and Alaska.
Odom has agreed to continue partnering SWS in Alaska and will provide "back of the house" support in the Pacific Northwest generally. It did not give specific details.
Sectors: Mergers & acquisitions, Spirits, Wine
