Vancouver-based Craig Stein Beverage (CSB), a wholesale distributor and seller of beer, wine, spirits and non-alcoholic beverages, has announced plans to acquire a Pacific Northwest beverage distribution company and to partner with another to form a new, larger regional distribution company.
This week, CSB announced it is in the process of purchasing Click Wholesale Distributing – a company with operations in Renton, Spokane, and Hayden, Idaho – for an undisclosed amount. At the same time, CSB plans to partner with Odom Corporation – a Bellevue-based beverage distributor – to form Northwest Beverages LLC.
Those involved in the deal said the combined organization will better serve the growing needs and competitive challenges of the regional beverage market.
“We are excited that the strength of Odom and CSB combined with the addition of the Click organizations will create a larger and stronger Northwest distribution network,” said Craig Stein. “We are confident this will lead to increased market service and penetration capabilities that would be an additional benefit to the suppliers and customers of all the involved companies.”
Robert Schneider, chief financial officer and corporate counsel for CSB, said the initial decision to enter into discussions with two other beverage distributors was a challenging one, and has involved a “very detailed and extensive process” a year and a half in the making.
“Now that we are there it certainly makes sense for all parties,” he added.
While the acquisition and partnership gives CSB a larger presence in the state, Schneider said there will be no effect on operations in Vancouver.
The sale is scheduled to close at the end of March. The new entity, Northwest Beverages LLC, will be equally owned by CSB and The Odom Corporation.
Craig Stein Beverage has been in business for over 26 years with distribution centers in Southwest Washington, Idaho and Nyssa, Oregon.
