New York, NY—(BUSINESS WIRE)–The Wine & Spirit Group (WGS), a premier wine and spirits retail and wholesale company, has entered into a definitive agreement to acquire and operate a full-line, privately held wine and spirit distributor in California.
The transaction is subject to customary closing conditions, including receipt of regulatory approvals and the satisfaction of certain regulatory and shareholder approvals, including those relating to the Company’s financial condition and the business operations of the company, as well as any other matters that may be deemed necessary or appropriate in the circumstances.
Under the terms of the agreement, WGS will be an exclusive distributor of wines and spirits from California to all states and territories in the United States and to Mexico and Mexico.
WGS’ new distribution partner will be named California Wine & Distillers, LLC, and will be based in San Diego, California.WGS will continue to operate as a limited liability company, subject to certain additional terms and conditions, as part of the consolidation, effective on December 31, 2018.
WSO will continue as a standalone company and will continue in its current form.WSS is the largest independent wine and liquor retailer in the world, and the first to become publicly traded in the industry.
For more information, visit www.wsu.com.WSO’s corporate headquarters are located at 100 West Street, Suite 350, San Diego CA 92121, and its San Diego retail store is located at 1026 Mission Street, San Francisco, CA 94105.
For more information about the WSO merger, please visit: http://www.wss.com/