SIL Managing Director, David Stephenson, told drinks bulletin that the purchase has been finalised, all but subject to shareholder approval in March.
SILG is an independent wide-range liquor wholesaler, servicing the Duncan’s and Oz Liquor banner group members, as well as a number of other independent liquor retailers across Victoria, Tasmania and South Australia.
Mr. Stephenson said of the decision to sell: “The objective was to make a stronger independent sector and by doing this asset purchase agreement with ALM that we’d be able to develop a very robust model to compete with the chains moving forward.”
Under the agreement, SILG will be amalgamated with Metcash’s Australian Liquor Marketers (ALM) – Australia’s largest broad range liquor wholesaler.
When asked what the sale would mean for employees at SILG, Mr. Stephenson said it was too early to comment on what decision would be made, but that SILG has requested ALM to transfer its staff across to the new organisation.
Mr. Stephenson did however confirm that ALM will be taking both the Duncan’s and Oz Liquor banner groups.
Metcash says that it believes the banner groups will be strengthened under Metcash’s ALM portfolio.
The shareholder meeting will be held in March.
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