Southern Glazer's Expands In New England, Acquiring $850M Player Horizon Beverage
Top-ranked wine and spirits wholesaler Southern Glazer's Wine & Spirits is expanding in the New England market, agreeing to acquire Horizon Beverage Group for an undisclosed sum. With the deal, which is expected to close upon regulatory approval, Southern is entering the Massachusetts and Rhode Island markets, extending its footprint to 46 states and Washington D.C., plus Canada and the Caribbean. The only states in which it does not operate are Georgia, Wisconsin, Connecticut, and New Jersey.
According to Shanken's Impact Newsletter, Horizon ranks as the 10th-largest distributor of wine and spirits in the U.S., with projected revenues of $850 million this year. Horizon's top suppliers include Bacardi, Sazerac, Suntory Global Spirits, Brown-Forman, and Campari in spirits, and Constellation, The Wine Group, and Kobrand in wine, along with beers from Heineken and a range of craft brewers. Founded in 1933, the company has 600 employees, 800,000 square feet of warehouse space, and a fleet of nearly 100 delivery vehicles.
Moving forward, the businesses will operate as Southern Glazer’s Wine & Spirits of Massachusetts and of Rhode Island, respectively. Horizon's leadership teams in both states will continue leading operations in those markets, working with Southern Glazer’s East Region president Scott Oppenheimer. All of Horizon’s family members and leadership team, including co-chairmen Bob Epstein and Jim Rubenstein, will also continue in their current roles to ensure a smooth transition.
“The Epstein and Rubenstein families have spent four generations building an exceptional business and legacy in New England that we have admired for years,” said Southern Glazer's CEO Wayne Chaplin in a statement. “We expect all existing and new supplier partners, as well as customers, to benefit from our two companies’ strengths and expertise, and look forward to building on the great foundation already established in the valuable Massachusetts and Rhode Island markets.”
“I have enjoyed a more than 50-year relationship with the Chaplin family,” added Bob Epstein, co-chairman of Horizon. “Southern Glazer’s is the ideal partner with the size, scale, and strength to support our employees well into the future, and to maintain our promise of high-quality service for customers and suppliers in New England.”
Massachusetts in particular is a key market for wine and spirits, ranking as the seventh-largest wine market in the U.S. by volume, according to Impact Databank, and ranking 13th among all states in terms of spirits consumption.