Glazer’s chairman & chief executive officer Bennett Glazer said: “Following more than a year of wide-ranging planning efforts with Southern Wine & Spirits, we have made the decision that it is in our company’s long-term best interests to end these meetings and discussions. Since August 2008, we have explored numerous options and concepts about how best to forge an association with Southern to generate enhanced value for both companies. However, our decision today has been driven by the sheer complexity of the transaction.”
Glazer added: “We value our personal relationships with the Chaplin Family, hold their management team in high esteem and wish them well in their future endeavors.”
Southern Wine & Spirits chairman & CEO Harvey R. Chaplin said: “Today’s decision was a very difficult one. We continue to hold the Glazer’s Family—and all that their company has accomplished over the last 100 years—in high regard.”
Both companies said the decision would no affect their business.