Green Light Distribution Sells Minority Stake
Green Light Distribution, a leading Texas distributor of small and mid-sized wine and craft spirits brands, announced a new minority growth equity investment led by SixSibs Capital, a Milwaukee-based family-owned private investment company focused on buy-and-hold investment opportunities. It's SixSibs' first deal in the bev/al industry. Terms and the amount of the investment weren't disclosed.
Proceeds will be used for improvements in infrastructure, such as systems and software, and in geographic expansion, principally people and communications.
Leveraging the founders’ experience as a supplier and wholesaler, Green Light was founded in 2019 to provide a premium distribution platform for craft brands that are often overlooked by national distributors. With a team of more than 60 salespeople and a footprint spanning five locations and 240,000 square feet of warehouse space across Texas, Green Light offers its more than 400 supplier partners state-wide coverage, including more than 4,000 retail outlets and premium distribution services.
“We are thrilled to partner with SixSibs Capital,” said Green Light founder and CEO Dusty Odell. “This investment will allow us to continue our rapid growth through organic and M&A growth initiatives, including geographic expansion into surrounding states and Florida.”
Previously, Green Light Distribution raised capital through a round of seed funding, but this new minority growth equity investment with SixSibs Capital sets the stage for Green Light to accelerate its growth on a larger scale.
SixSibs Capital President and CEO Jack Wigdale sees huge potential in Green Light Distribution. “We believe that Green Light is at an inflection point,” said Wigdale. “They were able to penetrate the entire Texas market, which is impressive. And now they’re well-positioned to upgrade their infrastructure and expand into new markets, all of which will help them go farther, faster.”
Green Light’s specialty - helping small and mid-sized spirits and wine brands compete more effectively in the marketplace - is working. Odell anticipates sales of $250 million in 2023. “Retailers want to offer new brands to customers,” adds Odell, “and we’re the best source for them in Texas, and soon, more states.”