Bristol Cellars has been acquired in a management buyout, and will now operate under its new name, Bristol Group of Companies Ltd. William Brewer Company sold the liquor distribution and retail arm of its business to JAB Holdings Ltd, whose president and principal shareholder is Juan Bacardi.
Mr Bacardi was part of the original team to launch Bristol Cellars 10 years ago, and was an integral part of the management team during the past four years of William Brewer ownership.
“Although Bristol Cellars has enjoyed tremendous growth over the last three years, this is a highly complex business, and in order for this company to reach its full potential, it made more sense that it be owned and operated by someone based here in the Bahamas,” said Mr Bacardi.
The Bristol Group of Companies is 100 per cent Bahamian owned.
The new owner’s main objective is to increase the company’s current market share and strengthen its portfolio. The Bristol Group of Companies is the exclusive distributor of premium alcoholic and non-alcoholic beverages including Red Bull, Jack Daniel, Grey Goose vodka, Courvoisier Cognac, Miller Beer, Stella Artois and Moet & Chandon and an impressive wine portfolio.
In order to achieve this goal, efforts will be made to maximise distribution and retail potential.
The company has distribution centres in New Providence, Grand Bahama, Abaco and Harbour Island, and maintains 12 retail outlets. The retail stores, which are owned outright by the Bristol Group of Companies, will be renamed Bristol Wines and Spirits.
Management will also focus on improving service, centralising operations and making sure the business is run as efficiently as possible.
“One of our challenges is to encourage both retail customers and proprietors to continue buying Bahamian, “he explained, adding “In order to do that, we have to be able to provide them with the right portfolio, service, and prices.”
Mr Bacardi says he does not anticipate any major changes in staffing, but noted that two management personnel who recently retired remain with the Bristol Group as consultants. Jim Malone, has retired after more than 40 years in the business, and Berkley Williamson, who was the sales and marketing manager, is pursuing other career interests.
“Jim Malone began in this business 40 years ago and I have been fortunate to have been able to work with someone of his stature and character and experience,” said Mr Bacardi.
