Multiple Liquor Store Owners was acquired by Chain of Liquor Stores
Transaction Description
12 Store chain for sale as a package or individually.
Transaction Details
Chain of Liquor Stores
Multiple Liquor Store Owners
Transaction Overview
Challenges
Multiple stores, Multiple buyers.
Each store performance was different.
Each lease was from a different Lessor.
TABC Licenses do not transfer so each buyer had to apply for new licenses and follow the process of the waiting period during notice to the public.
Competition of larger box stores and many counties became wet.
Solutions
Packaged together a group of stores that were geographically efficient for one of the buyers and required this buyer to also buy one of the non-profitable stores as part of the package.
Remaining stores sold individually to other buyers. The profitable stores sold at a multiple of earnings plus inventory. The non-profitable stores still sold for value of the inventory due to their favorable locations.
Summary
This was a referral from an M&A Attorney that we have worked with on previous deals. Due to our successful performance, demonstration of efficiency, and ease of process on prior deals, he trusted us to handle this very complex seller, business, and transaction.
