Glazer’s Inc. and USVI-based Premier Wines and Spirits have announced they have signed a definitive agreement to create a new company to distribute beer, wine and spirits in the U.S. Virgin Islands. The company, to be called Glazer’s Premier Distributors LLC, will result from the contribution by Premier Wines and Spirits of its operations and assets in the Virgin Islands and a financial investment by Glazer’s.
Premier Wines and Spirits is a leading spirits, wine and beer distributor in the V.I., representing many important international suppliers, including Pernod Ricard, Miller, Beam Global, Campari, Patron, Imperial Brands, Serralles, Sidney Frank, Constellation and Red Bull. Premier has operations on St. Thomas and St. Croix. It expects to continue with its core suppliers and expand the business with the resources of Glazer’s.
Glazer’s President and CEO Sheldon “Shelly” Stein, said, “With today’s announcement, we have taken the first step of Glazer’s long-term strategy to grow internationally, which we believe will create new value for our strategic suppliers. We are extremely excited by this new opportunity, and are looking forward to growing our Caribbean footprint with our new partners.”
Premier CEO Albert Paiewonsky, who will continue that role at Glazer’s Premier, said, “I am very pleased to be partnering with Glazer’s. Glazer’s brings a wealth of knowledge, relationships and experience in the distribution business, and we look forward to enhancing our performance with our strategic vendors and our service platform with our customers.”
Premier Owner Ed McDonnell said, “We believe that we have picked the right partner in Glazer’s to help us grow our business. Our core leadership of Premier will be staying in place to manage the company, and we are energized by the advantages that Glazer’s brings to our operations.”
They expect the transaction to close and for Glazer’s Premier Distributors LLC to begin doing business in the U.S.V.I. on Oct. 1.
About Glazer’s Inc.
Glazer’s, one of the country’s largest privately held companies, currently operates in 14 states and the Caribbean, and is one of the nation’s largest distributors of wine, spirits and malt beverage products. The company has operations in Alabama, Arizona, Arkansas, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Ohio, Oklahoma, Tennessee and Texas. The third-generation family business was founded in Dallas in 1933. For more information, visit the Web site at www.glazers.com.