Private equity firm Blue Equity has announced that it has acquired Kentucky-based spirits, beer and wine retailer Liquor Barn from Liquor Stores N.A. Ltd., a publicly traded company based in Edmonton, Alberta, Canada.
As a part of the transaction, the corporate offices and all operations of Liquor Barn will be relocated and based in Louisville, Kentucky, which will now become the largest locally owned and operated retail chain of spirits, beer, wine and party goods in the Commonwealth of Kentucky. Liquor Barn has 15 retail locations in Kentucky, including six locations in Louisville, six locations in Lexington, as well as stores in Danville, Bowling Green, and Elizabethtown. The stores range in size from 2,700 square feet to 30,000 square feet, with a flagship store that is more than 44,000 square feet.
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Blue Equity, a Kentucky-based private equity firm, currently owns and operates multiple Party Mart Stores in Louisville, Kentucky. Party Mart offers a large selection of spirits, beer, wine and party supplies and the acquisition makes the company the leading retailer in the Commonwealth. Blue Equity recently formed Blue Rose Spirits, LLC to make the investment in the Liquor Barn assets. Blue Rose Spirits consists mainly of a partnership between Blue Equity and Vince Rosenblatt. Blue Equity previously invested in Angel’s Envy bourbon with Rosenblatt and together were instrumental in the development of the Angel’s Envy brand from inception. Angel’s Envy, which was sold to Bacardi Limited in 2015, has become one of the most emerging bourbon brands in the world.
“The acquisition of the Liquor Barn assets is the perfect next step in our quest to become the leading retailer for spirits, beer, wine and other products to our loyal and growing customer base in Kentuckyand beyond,” said Jonathan S. Blue, Chairman and Managing Director of Blue Equity, LLC. “We will also be able to secure nearly 175 full time jobs for the Commonwealth and build on the $10 millionannual payroll base as we continue to grow the business.”
Matthew Rudd, Senior Vice President and Chief Financial Officer of Liquor Stores N.A. Ltd. stated, “We are very fortunate to have built a relationship with Jonathan Blue and his team at Blue Equity. We believe this quality of local ownership will position the business for significant improvement and continued success.”