Paramount has acquired the remaining 50 per cent of shares in Paramount QLD (formerly known as Liquid Specialty Beverages), making it a wholly owned subsidiary.
Darren Terlich, Director, and shareholder, his wife Samantha, and founder and shareholder, Trevor Harch, will all step away from the business.
Brothers Nathan and Leigh Rowe, Directors of Paramount, said: "Moving forward, we are committed to providing you with exceptional service and wholesale support. Our recent increased investment into our supplier partnerships and marketing teams, demonstrates our commitment to our supplier partnerships as our business continues to evolve.
"We are excited about the opportunities that lie ahead, and we are very bullish that the acquisition of Paramount QLD will further strengthen our position in the Australian liquor market."
When Paramount took an equity stake out in Liquid Specialty Beverages in mid-2021, it expanded its reach from the Northern Rivers of New South Wales all the way north to Port Douglas in far north Queensland, thanks to LSB's service area.
The acquisition coincides with Paramount having integrated all of its systems for a unified back of house network including, ordering portal, and distribution network across our five distribution centre with a footprint of more than 50,000sqm.
Paramount now services in excess of 10K on-premise customers along the east coast of Australia and with the acquisition all operations will now fall under the Paramount brand umbrella.
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