When Florida businesses look to grow by merger or acquisition, there can be many ways via which this can happen. For example, all areas of the two businesses can be combined into one. It is also possible for two companies to merge yet for select parts of one or both businesses to remain separate. Such is the case with a recently announced merger involving a Miami-based company.
Noted as one of the nation’s top private companies, Southern Wine and Spirits of America will be merger with the smaller Dallas-based Glazer’s, Inc. The newly joined company will be called Southern Glazer’s Wine and Spirits of America. In the same transaction, a portion of Glazer’s existing business will be spun off into its own company, Glazer’s Beer and Beverage.
Assuming the merger is approved by regulators, the merger could be complete by the middle of 2015. Leadership for the new business will include Southern’s current chair. While the company’s headquarters will be in Miami, there will remain a strong presence in Dallas as well. Overall, the business will span the Caribbean region, Canada, the District of Columbia and 41 U.S. states and boast an employee base of more than 20,000 people. It will be the largest distributor of spirits and wine in North America.
Mergers like this are strategic moves that can benefit both companies, their employees, and their customers when executed properly. Ensuring that all essential elements of the transactions are handled properly is a must. For this reason, working with experienced Florida lawyers may be recommended.
Source: South Florida Business Journal, “South Florida’s second-largest private company to merge,” Brian Bandell, January 11, 2016