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Southern Glazer’s to buy Webb Banks
Alcohol distributor Southern Glazer’s Wine & Spirits (SGWS) has agreed to buy distribution firm Webb Banks to grow its foothold in the Pan-Caribbean market.
Webb Banks is the leading distributor of wine and spirits in the Caribbean, Central America and South America, and the travel retail sector – including the cruise channel.
The acquisition is expected to be completed on 31 March 2023; financial details of the purchase have not been disclosed.
Scott Oppenheimer, president, east region, SGWS, said: “This acquisition provides another connection point for Southern Glazer’s and our valued suppliers who are looking for expert route-to-market capabilities across the Atlantic Basin.”
Once the deal has been completed, Webb Banks will go through a transition period during which it will continue to operate under the company name and management team. Chief executive officer Andy Consuegra will lead the team, accompanied by chief operating officer Jose Castellvi, and chief financial officer Juan Carlos Rodriguez.
The team will report to Oppenheimer. The existing SGWS travel sales and export team, and associated portfolio will transition to Webb Banks.
Oppenheimer added: “Webb Banks has experienced tremendous growth over the past several years thanks to a collaborative company culture, strong strategic partnerships, and in-depth knowledge of the markets in their region.
Consuegra founded Webb in 2007, which merged with Banks Channel in 2016 to create Webb Banks.
The company works in 34 markets with more than 200 distribution partners, making it the biggest wine and spirits distributor in the Pan-Caribbean market.
Consuegra said: “Together, with our market expertise and Southern Glazer’s strong industry relationships, superior capabilities, and deep consumer and trade insights, we will significantly elevate the standard of services we provide to our valued suppliers, wholesalers and retail customers.”
In October last year, Seven Tails brandy secured a distribution deal with SGWS.