Johnson Brothers acquires Maverick Beverage Company
Drinks distributor Johnson Brothers has expanded its US scope after agreeing a deal to acquire Maverick Beverage Company’s operations in four states.
The deal will see Johnson Brothers take control of Maverick Beverage Company’s operations in Arizona, Colorado, Florida and Texas. The latter will be Johnson Brothers’ debut in the Texan market.
Furthermore, 400 Maverick workers will move to Johnson Brothers to further help drive growth from the companies’ aligned values of executional excellence and business-friendly practices.
Financial terms of the transaction were not disclosed.
Michael Johnson, chairman of Johnson Brothers, said: “Like Johnson Brothers, Maverick has a phenomenal reputation for building premium portfolios with execution and accountability.
“We are excited to welcome their talented team and begin serving the great suppliers they work with today. The Maverick acquisition is a priority for our long-term growth, and we look forward to building on their outstanding success.”
Maverick Beverage Company also has operations in Minnesota and Illinois, which have not been made part of the acquisition. The company distributes fine wine and spirits.
Its CEO, Ryan Schwartz, called the partnership an “exciting chapter for Maverick and the suppliers we are proud to represent”.
“Johnson Brothers shares our values and our commitment to doing what is right for the suppliers and customers we serve. We are confident this transition will benefit our team, our partners, and the continued momentum we have built,” he added.
While the acquisition marks Johnson Brothers’ expansion into Texas, in other drinks news from the southern state, it could soon see spirits-based, ready-to-drink (RTD) cocktails stocked by retailers.
Last week, the Texas Senate State Affairs Committee approved the SB 2255 bill, and the full senate is now considering whether to allow spirits-based RTD cocktails to be sold in the same stores as their beer and wine counterparts.
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