Reyes Beer Division said it agreed to acquire substantially all the assets of Paradise Beverages Inc. in Hawaii. Terms weren't disclosed and the transaction is expected to close in December.
The acquisition adds more than 2,300 customers and roughly 8.9 million cases to RBD’s overall operations, and includes brands from key suppliers such as Molson Coors, Constellation, Boston Beer, Diageo, HUSA and Maui Brewing.
“On the heels of announcing new business in Tennessee and Texas, we are humbled by this opportunity in Hawaii,” said Tom Day, CEO for Reyes Beer Division. “We are fortunate to be in the position of accelerated growth that we’re in today – and it’s all thanks to our hardworking teams. We wouldn’t be here, or be approached for opportunities like these, without our employees, their high standards of excellence and the service they provide to our suppliers and customers every day.”
“For the first time ever, we are expanding the RBD West footprint outside of California,” said Tom Reyes, president of Reyes Beer Division West. “Paradise and Reyes have similar missions and values rooted in integrity and excellence and we are eager to join our teams and get to work.”
“Our family has been incredibly honored to have been owners of Paradise Beverages for over four decades and it is bittersweet to say goodbye to this company and its exceptional group of people,” said William Anderson, Chairman/CEO of Anderson Holdings. “I am extremely grateful to John Erickson, President of Paradise Beverages, for his exemplary leadership and his team’s hard work to build an organization of which our family is very proud.”
Going forward, RBD will operate the business as Hawaii Beverage, L.L.C. and will maintain all five existing distribution facilities across the state.