By
Associated Press
.
Published: Fri, November 14, 2008 - 8:31 am
Last Updated: Fri, November 14, 2008 - 8:33 am
MOBILE, Ala. (AP) - Beer distributor Gulf Distributing HoldingsLLC plans to merge with Montgomery-based Allstate Beverage Co. by
the end of this year.
Under the agreement, Allstate part-owner Charles Grant will sell
half his ownership interest to Elliott Maisel, chairman of
Mobile-based Gulf Distributing, said Grant's brother and Allstate
co-owner Walker Grant.
Charles Grant will maintain the rest of his interest, and Walker
Grant will maintain all his interest, leaving the Grants as
minority owners of the combined company, Walker Grant told the
Press-Register in Mobile Thursday.
The price to be paid to Charles Grant was not disclosed. Maisel
said the combined firms would have yearly revenue around $200
million.
Grant said Allstate, with warehouses in Montgomery, Demopolis
and Dothan, has about 150 employees. Maisel said Gulf Distributing
has about 500 employees.
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