Wirtz Beverage Group, a Chicago-based leading North American spirits, wine and beer wholesaler, and McLane Company Inc., a Texas-based global foodservice and supply chain leader, announced the formation of a joint venture as the two entered into an agreement with St. Louis-based Missouri Beverage Co.
Missouri Beverage is a full-service distributor of spirits, wines, beers, juices and soda throughout the state. Bill Reichhardt will continue to serve as president. Terms of the deal were not disclosed.
“The dynamics of our continually changing industry require bold, dramatic moves if we are going to continue to drive value to our suppliers and customers. Our joint venture with McLane, and together our combined investment into a new state with Missouri Beverage, is a continued step in that direction,” said W. Rockwell Wirtz, president of Wirtz Corp. “With our focus on technology and an institutional knowledge of the Midwest marketplace, particularly in the states of Illinois, Wisconsin, Minnesota and Iowa, we can’t think of a better place, a better time or better partners.”
The deal, which is expected to close in May, will bring together the expertise of two industry leaders whose focus on integrating technology and logistics excellence into its operations have differentiated each from traditionally modeled organizations.
“When you can take the most advanced logistics company in the world, unite it with one of the top wholesalers in the country, and join forces with an established, respected on the ground distributor, you create an incredible amount of excitement and potential,” said Grady Rosier, president and chief executive officer of McLane. “We are excited about the future and our new partners.”
Wirtz Beverage Group is one of the nation’s leading beer, wine and spirits alcohol beverage distributors with operations in Illinois, Iowa, Minnesota, Nevada and Wisconsin. It is fourth generation owned and operated. The company is a subsidiary of Wirtz Corp. whose holdings include ownership of real estate, sports, financial services and insurance companies. With more than 2,500 employees, Wirtz Beverage calls the industry’s elite beer, wine and spirit distributors its partners.
McLane, a $44 billion dollar supply chain services leader, provides grocery and foodservice solutions for convenience stores, mass merchants and drug stores, as well as chain restaurants throughout the country. In addition, McLane also owns Empire Distributors Inc., Horizon Wine & Spirits and Delta Wine & Spirits. McLane is a wholly owned unit of Berkshire Hathaway Inc.