Southern Glazer’s Wine & Spirits has introduced its plans to amass Miami-based WEBB Banks, a distributor of manufacturers together with Tito’s Handmade Vodka, within the Caribbean, Central and South America, in addition to the journey retail and cruise sector.
The acquisition, anticipated to shut on 31 March 2023, expands Southern Glazer’s attain within the Atlantic and journey retail, strengthening its logistical capabilities to ship merchandise extra effectively to advanced markets within the area.
Scott Oppenheimer, Southern Glazer’s president, east area, stated: “This acquisition supplies one other connection level for Southern Glazer’s and our valued suppliers who’re searching for knowledgeable route-to-market capabilities throughout the Atlantic Basin.
“WEBB Banks has skilled super progress over the previous a number of years due to a collaborative firm tradition, robust strategic partnerships, and in-depth information of the markets of their area,” Oppenheimer added.
Upon completion of the acquisition, the enterprise will proceed to function throughout a transition interval below the WEBB Banks identify and administration workforce, led by CEO Andy Consuegra, COO Jose Castellvi, and CFO Juan Carlos Rodriguez.
The workforce will report back to Oppenheimer, as the prevailing Southern Glazer’s journey gross sales and export workforce and related portfolio will transition to WEBB Banks, to make sure a whole answer for suppliers targeted on the Atlantic Basin.
Consuegra based WEBB in 2007 after which merged with Banks Channel in 2016 to create WEBB Banks, which operates in 34 markets and has greater than 200 distributor companions. Southern Glazer’s journey gross sales and export division launched in early 2017 and has since grown to serve 25 international locations with almost 70 totally different distributors, cruise strains and duty-free operator companions.