YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
A joint venture that includes Springfield-based Heart of America Beverage Co. is buying a St. Louis beer distributor.
Heart of America is joining with KEG 1 LLC and Central States Beverage Co. in the joint venture called KEG 1 Missouri to buy the assets of Summit Distributing, according to a news release. The financial terms of the deal were not disclosed.
"We are excited about the future opportunities this acquisition brings, and we look forward to building on the success that Summit Distributing has achieved over the decades," Heart of America Chair Jim Ferguson said in the release. "Together, we will continue to uphold the highest standards of service, innovation and community engagement."
Summit Distributing is being acquired from Tom Stillman, who also owns the St. Louis Blues hockey team.
Heart of America operates a 148,000-square-foot warehouse and headquarters in Republic’s Garton Business Park, where it moved in 2018. It also has a 3,000-square-foot satellite warehouse in Joplin, which in 2019 replaced a larger distribution center there, according to past reporting. The company's annual revenues range from $75 million to $100 million, officials have said, and it ships over 4 million cases of product per year.
Moseley’s Discount Office Products was purchased; Side Chick opened in Branson; and the Springfield franchise store of NoBaked Cookie Dough changed ownership.
Executive Insider: Mindy Hoff