Grey Eagle To Purchase Illinois Distributing Company Acquisition Will Allow Anheuser-Busch Wholesaler to Expand into Southern Illinois
ST. LOUIS, Sept. 6, 2012 /PRNewswire/ -- Grey Eagle Distributors, the Anheuser-Busch wholesaler for St. Louis County, has agreed to purchase Illinois Distribution Company, an Anheuser-Busch wholesaler based in Belleville, Ill. The agreement allows Grey Eagle to acquire Illinois Distributing's assets and sales territory which includes most of St. Clair County, Monroe County, Collinsville and Granite City. This transaction is subject to approval by Anheuser-Busch which is expected by the end of the year.
Grey Eagle sells approximately 7 million cases of beer annually. This acquisition would give the company an additional 2.6 million cases, making Grey Eagle one of the largest beer distributors in the Midwest and one of the larger Anheuser-Busch distributors in the country.
Illinois distributing has been owned and operated by the Joynt family since Tony Joynt Sr. purchased the company in 1948. The company sells and distributes approximately 76 brands of beer to more than 850 retail accounts. Most of Illinois Distributing's 85 full-time and part-time employees will be retained by Grey Eagle.
"Illinois Distributing and the Joynt family have a long and proud tradition as an Anheuser-Busch wholesaler, and we are honored to have worked with them to come to this agreement," said David M. Stokes, president and chief executive officer, Grey Eagle Distributors. "The company has always been a great partner to retailers and an important member of the community. We are excited about this opportunity and look forward to building on their legacy."
"My sister, Susan, and I are proud to have been an Anheuser-Busch wholesaler for 64 years. It has been a wonderful experience working with Anheuser-Busch and our IDC family of employees over the years," said Tony Joynt Jr., president, Illinois Distributing Company. "We are so grateful to have been able to continue our parents' legacy over those 64 years, and we're very happy to have to come to an agreement with Grey Eagle. They have always been an excellent wholesaler and an ambassador to the local community, and we have no doubt the tradition our parents started here in the Metro East will continue."
Once the acquisition is approved Grey Eagle will sell nearly 10 million cases of beer annually in a sales territory stretching from Monroe County, Ill. to Gasconade County, Mo. The company will now service more than 3,000 retail accounts and have close to 300 employees. Grey Eagle will keep Illinois Distributing Company's operations in Belleville.
Grey Eagle expanded its territory in January 2011 when it acquired Missouri Eagle LLC in Washington, Mo. In February 2011 Grey Eagle acquired the brand distribution rights for Stella Artois and Beck's.
For further information, contact:
Paul Byrne (314) 737-1847
SOURCE Grey Eagle Distributors