Breakthru Beverage Group announced this week that they have reached an agreement to acquire Pennsylvania-based Majestic Wine and Spirits USA.
Under this new agreement, Majestic will operate as an independent division of Breakthru Beverage Pennsylvania.
“Majestic is one of Pennsylvania’s premier brokerages with a reputation for strong sales and service excellence,” says Greg Baird, Breakthru Beverage Group president and CEO. “Their diverse portfolio and knowledgeable and dedicated team makes Majestic an ideal partner as we look to expand our presence in the Pennsylvania marketplace and provide greater value to customers statewide.”
Majestic Wine and Spirits has been serving Pennsylvania for 33 years. The company has built upon its expertise as purveyors of fine wines, the company says, and has both grown its portfolio and steadily expanded statewide since inception.
“Breakthru shares many of the same principles we value including a commitment to investing in our teams and building differentiation in a competitive marketplace,” says Chris Papariello, Majestic Wine and Spirits general manager and Executive VP. “Their capabilities are second to none, giving us the opportunity to utilize their strengths and resources to improve our support systems and take advantage of this unique growth opportunity.”
The majority of the company’s 35 employees are expected to join the new Majestic Division of Breakthru Beverage Pennsylvania.
“We’re thrilled to welcome Majestic’s experienced and knowledgeable team into the Breakthru family and look forward to leveraging their industry knowledge to continue to grow our Pennsylvania business,” says P.J. Horgan, Breakthru Beverage Group Pennsylvania president. “Our focus remains on growing our business with like-minded partners while providing an even greater level of service to our suppliers and customers. Majestic will help us achieve those goals.”
While Majestic will operate as a separate sales division, they will have immediate access to Breakthru’s capabilities and shared services, including training programs, digital marketing, analytics and insight tools.
The exact terms of the deal were not disclosed. The transaction is expected to close on or around May 31, subject to the usual and customary closing conditions.