For Immediate Release Contact: Wayne E. Chaplin
President and Chief Operating Officer
Southern Wine & Spirits of America, Inc.
Telephone: (305) 625-4171
Southern Wine & Spirits of America, Inc.Announces Expansion into Ohio, Acquiring Paramount Distillers Brokerage Operation
Deal Expected To Close July 31, 2007, Extending Southern’s Coverage to 15 Control Jurisdictions
MIAMI - July 16, 2007 – In a transaction anticipated to close on July 31, 2007, Southern Wine & Spirits of America, Inc., the nation’s leading wine and spirits distributor and Control States broker with a tradition of service excellence since 1968, announced today that it will acquire the Paramount Distillers Brokerage operations of Paramount Distillers, Inc., which is based in Cleveland, Ohio.
Wayne E. Chaplin, President & COO of Southern Wine & Sprits of America, Inc., said, “This Ohio acquisition represents a significant step in Southern Wine & Spirits of America’s. ongoing mission to be the Broker of Choice for its Suppliers within the U.S. Control States market. Now with Ohio joining our Control States Group, we will be present in 15 of the 18 Control State jurisdictions in the United States, which is more than any other wine and spirits distribution company in the business.”
Mr. Chaplin added, “We envision Ohio playing a strategic role in our overall Control State business, as it represents the third largest Control State market in the U.S. in distilled spirits sales; its operations will blend well with our established and industry-leading National Control State Team, which is led by Peter Hickey, Executive Vice President, General Manager-Control States Division.
Commenting on the Ohio acquisition, Mr. Hickey said, “We are excited about the prospects and opportunities of working in Ohio and we are confident and determined to continue to grow market share for all our Ohio Supplier Partners.”
Robert A. Manchick, Chairman of Paramount Distillers, Inc. said, “Our Company has been operating in this market since 1934 and we are honored and confident in entrusting the future of our brokerage organization 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.”
Mr. Chaplin also noted that “We are grateful that Chuck Manchick will continue in his current capacity to help us better understand and ensure the continuity of the Paramount Brokerage business in Ohio. We welcome him and the Paramount Distillers Brokerage team to our growing Southern family.”
About Southern Wine & Spirits of America, Inc.
Southern Wine & Spirits of America, Inc. is the nation’s largest wine and spirits distributor, with operations in 27 states, not including this transaction. The Company currently operates in: Alabama, Arizona, California, Colorado, Florida, Kentucky, Hawaii, Illinois, Maine, Mississippi, New Hampshire, New Jersey, Nevada, New Mexico, New York, North Carolina, Pennsylvania, South Carolina, Vermont, Virginia, and West Virginia. The Company has a strategic partnership with Alaska Distributors Co. of Seattle, Washington, called Southern Wine/Spirits West, a joint venture that has wine and spirits brokerage operations across the Northwest Control States of Idaho, Montana, Oregon, Utah, Washington, and Wyoming. On a national basis, Southern Wine & Spirits of America, Inc. employs more than 10,000 team members. For more information contact: www.southernwine.com.
About Paramount Brokerage:
Paramount Brokerage is a division of Paramount Distillers, Inc., which was founded in 1934. For more information, log onto: www.paramountdistillers.com