Southern Glazer’s Offloads USVI Business To Coca-Cola Bottler CC OneJanuary 29, 2020
Southern Glazer’s Wine & Spirits has agreed to sell its U.S. Virgin Islands-based distribution business to CC One Virgin Islands for an undisclosed sum, effective January 31. CC One is a member of CC1 Companies, and is the official distributor of Coca-Cola sparkling and still brands in the U.S. and British Virgin Islands and Grand Cayman.
The acquired business will be renamed CC1 Virgin Islands Wine and Spirits upon closing. CC1 Companies vice president of international operations Carlos Diaz said the move “solidifies our strategy to become a total beverage company.” Southern Glazer’s U.S. Virgin Islands business had estimated revenues of $25 million last year, according to Shanken’s Impact Newsletter.
While noting that the U.S.V.I. unit has a solid foundation and was a positive experience for Southern Glazer’s, company COO Brad Vassar said, “At this time we’ve decided to focus on our U.S. and Canadian business where we feel we can strategically deliver the most value for our suppliers and our company.”—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.