Chicago, Oct. 8, 2009 - Liquor Group Wholesale, Inc. again makes good on its expansion commitment made to shareholders by announcing the addition of a new sales territory through the acquisition of a statewide liquor distribution operation in the State of Illinois.
The merger was underwritten privately by VIGOR Holding Company, a major shareholder in LIQR, and brings Alex Chudnovsky of Tastes of the World/Imperial Distributors with his sales & distribution team into the fold with a five year stock-vesting plan. Chudnovsky's operations grossed more than $2.8M in 2008 while representing only a small portfolio of roughly 80 mostly ethnic products. With the combination of existing Illinois aggressive operators and Liquor Group's 1800+ products, the newly formed "Liquor Group Illinois" is now a force in Illinois.
"We are excited about becoming the 32nd state in Liquor Group through this stock vesting program..." says Chudnovsky "...better to be a party to a merger with a large outfit like Liquor Group which benefits everyone involved then to be left out fending for yourselves as a distributor in only one or two states."
Also important to this equation is the "Firepower" added to Liquor Group by bringing on Fred Rosen, a long-time major shareholder in LIQR and a career alcohol beverage retailer best known for his ownership in Sam's of Chicago, the largest liquor volume retailer in the world. Rosen began assisting with this distribution company acquisition strategy and overall brand portfolio development. Rosen can now turn his focus on assisting the development of a large-scale retailer outreach strategy through this new operation.