Distributor Southern Glazer’s Wine & Spirits is extending its geographical reach ahead of the summer travel season.
The company announced an acquisition of Miami-based distributor WEBB Banks on Wednesday, according to a March 14 press release. WEBB is a significant premium wine and spirits distributor in the Caribbean, Central America, and South America. It also serves retailers in the travel and cruise industries.
The new arm of Southern Glazer’s will extend the corporation’s reach into the Atlantic travel market and support distribution to retailers across the three aforementioned tourist-friendly regions.
“This acquisition provides another connection point for Southern Glazer’s and our valued suppliers who are looking for expert route-to-market capabilities across the Atlantic Basin,” Southern Glazer’s east region president Scott Oppenheimer states in the release. “Combining the strength of our supply chain and logistics expertise, with WEBB Banks’ strong customer relationships and knowledge of the market, makes this acquisition an absolute game changer for our suppliers.”
During the transition, WEBB Banks will operate as normal under the same name and leadership. After the acquisition closes, WEBB Banks’ employees will also work with Oppenheimer and the Southern Glazer’s travel sales & export team. The travel-focused department will merge with WEBB Banks’ current portfolio and employee base.
WEBB was founded in 2007 by current CEO Andy Consuegra, merging with Banks Channel in 2016 to establish the corporation. It’s the Pan-Caribbean region’s largest wine and spirits distributor, serving 25 different countries and some 70 distributor, cruise, and duty-free partners.
The corporation did not release a purchase price but states that the acquisition is to be completed by March 31.