RNDC and Young’s form distribution joint venture
Wine and spirits distribution firms Republic National Distributing Company (RNDC) and Young’s Market Company have agreed to partner in 32 US states and the District of Columbia.
The joint venture will be led by a board of directors made up of executives from both companies.
RNDC will be responsible for leading daily sales and operations in all 33 markets, while Young’s will operate in coordination with RNDC’s business nationally.
Tom Cole, CEO of RNDC, said: “The marketplace is changing quickly and significantly. And while innovation and technology are at the forefront of our growing company, our partnership with Young’s Market Company allows us to expand our reach across America, building upon the great relationships they’ve created for more than a century.
“The new partnership will expand service and selection of our combined beverage alcohol portfolios from coast to coast.”
Both firms believe the partnership will make them “better equipped” to invest in employees and provide “efficient and coordinated” service to suppliers and customers.
Chris Underwood, CEO of Young’s Market Company, said: “Our partnership with RNDC positions us to compete more effectively with other distributors across the nation to better serve suppliers and creates more opportunities for employees as part of a truly national enterprise.”
The transaction is expected to close in the third quarter of 2019 and is subject to customary closing conditions, including regulatory approval from the Federal Trade Commission.