Judge Okays Bankruptcy Sales of RNDC Michigan Business

A federal judge approved the sale of Republic National Distributing Co.'s Michigan wine business to Great Lakes Wine & Spirits, Imperial Beverage Company and Vintage Wine, as well as the acquisition of its authorized distribution agent business equity by Great Lakes Wine & Spirits. The parties entered into a purchase agreement earlier this month.

RNDC estimated it would realize around $20 million of net proceeds from the sale of RNDC's interest in the RNDC Michigan joint venture.