Southern Glazer’s Wine & Spirits acquires WEBB Banks
The acquisition is expected to close on March 31, 2023
Southern Glazer's Wine & Spirits has announced its plans to acquire Miami-based WEBB Banks, the leading premium wine and spirits distributor in the Caribbean, Central America, and South America, as well as the travel retail and cruise sector.
"The acquisition, expected to close March 31, expands Southern Glazer’s reach in the Atlantic and travel retail, and strengthens its logistical capabilities to deliver products more efficiently to complex markets in the region," states a press release.
Upon completion of the acquisition, the business will continue to operate during a transition period under the WEBB Banks name and management team, led by Chief Executive Officer Andy Consuegra, Chief Operating Officer Jose Castellvi, and Chief Financial Officer Juan Carlos Rodriguez. The team will report to Scott Oppenheimer, Southern Glazer’s President, East Region. The existing Southern Glazer’s Travel Sales & Export team and associated portfolio will transition to WEBB Banks to ensure a complete solution for suppliers focused on the Atlantic Basin.
“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,” said Oppenheimer. “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.
“WEBB Banks has experienced tremendous growth over the past several years thanks to a collaborative company culture, strong strategic partnerships, and in-depth knowledge of the markets in their region. We’re excited to welcome their brands – many of which we already share – and their talented, experienced team into the Southern Glazer’s family.”
“Southern Glazer’s recognizes the success we’ve achieved in the region, operating in markets that are particularly complex and fragmented,” said Consuegra. “In turn, we have found a great partner in Southern Glazer’s, like us a family-owned company that takes pride in a strong company culture and diverse workforce and shares our values and commitment to building world-class wine and spirits brands. Together, with our market expertise and Southern Glazer’s strong industry relationships, superior capabilities, and deep consumer and trade insights, we will significantly elevate the standard of services we provide to our valued suppliers, wholesalers, and retail customers.”
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