The Vintner Group, a Virginia-based importer of wines and distributor of wines and craft spirits, has signed an agreement to buy Martin Scott Wines of Lake Success, New York for an undisclosed amount.
Established in 1990, Martin Scott Wines distributes fine wines sourced from all around the world. The company stores wines in temperature-controlled warehouses and maintains stable environment until they are delivered to retailers, restaurateurs, hotels and private clubs.
Post acquisition, the company will continue to trade as Martin Scott Wines in its distributed territories and will retain its staff.
Martin Scott Wines president and CEO Martin Gold was quoted by WineBusiness.com as saying that The Vintner Group and Martin Scott Wines share a common culture and are kindred spirits in the very specific sales approach required to properly service their markets.
The Vintner Group president and CEO David Townsend told the website that 2013 has been a year of explosive growth for the organization.
"We clearly believe in a vision of a consolidated fine wine market that allows artisanal brands access to economies of scale while preserving their inherent family values," Townsend added.
"Martin Scott Wines has proven their ability to accomplish just that in the hyper-competitive New York Metro area, and we are fortunate to be able to plug into Marty Gold's experience as we add to our reach."
The acquisition of Martin Scott will allow Vintner Group to expand distribution footprint into New York, New Jersey and Connecticut.
The transaction is set to close on 30 June 2013.
