Business
Rocky Mountain Liquor announces Significant Acquisition
Rocky Mountain Liquor announces Significant Acquisition
About this update from Rocky Mountain Liquor Inc.
[{"type":"text","content":"\nRocky Mountain Liquor announces Significant Acquisition\n\n\n Sep. 21, 2009 (Filing Services Canada) -- Rocky Mountain Liquor Inc. (RUM - TSX Venture), listed on the TSX Venture Exchange (the \"Exchange\"), today announced a strategic acquisition.\"We are pleased that on the day of changing our name to Rocky Mountain Liquor Inc., we are also announcing a new acquisition.\" stated Peter Byrne, CEO. \"With this addition Rocky Mountain Liquor gains a significant entry in the liquor service segment in North Central Alberta.\" Rocky Mountain's wholly owned subsidiary, Andersons Liquor Inc. (\"Andersons\") has entered into a definitive agreement with a vendor to acquire its operations in North Central Alberta, subject to due diligence and final approvals. Ms. Allison Byrne, company COO went on to explain, \"The aggregate purchase price of these assets is estimated to be $2.0-million dollars, including inventory. The acquisition consists of a retail store location and a liquor service business with significant market share.\" Alberta's exclusive liquor distributor, Connect Logistics, ranks liquor stores according to their volume of cases purchased and this vendor ranked in the top 3% of almost 1200 stores provincially, ranking 29th highest for 2008. Ranking by Brewers Distributing Limited, Sleemans Breweries Ltd. and Big Rock Brewery Income Trust has not been publicly disclosed, but is believed this operation holds significant market leadership for beer products in the region and the province. The liquor service segment provides retail liquor service to commercial businesses.\"We have been able to develop good logistical policies, procedures and order automation, as a result of the operations of our own Enterprise Fulfillment Center, which services our retail locations. We desire to bring these synergies to the operations of this successful operator. This acquisition is in line with our growth strategy, and we expect it to be immediately accretive.\" Mr. Byrne said.Andersons has sufficient financial resources to complete these transactions with existing bank financing. After this acquisition, the Company will have available financing in excess of $6.0-million dollars to continue its growth strategy. Should the transaction close as intended, Andersons will operate 26 stores in Alberta, five in Northern Alberta, five in Southern Albert...