Breakthru Beverage Group and Republic National Distributing Company (RNDC) — both members of the Forbes list of “America’s Largest Private Companies” — on Nov. 20 announced the execution of a Letter of Intent to combine their assets and operations.
The transaction is expected to close late in the second calendar quarter of 2018, subject to regulatory approvals and other customary closing conditions
“The merger of RNDC and Breakthru will create strategic opportunities that will benefit our associates and our business partners in a rapidly changing and highly competitive marketplace,” says RNDC President and CEO Tom Cole. “Much more than a growth opportunity, we are entering this venture to create something that is different, sustainable and transformative. Together, our deep bench of focused, diverse associates will bring great and unique advantages to our suppliers, our customers and the consumers who enjoy the products we represent.”
Breakthru Beverage Group President and CEO Greg Baird commented, “Breakthru looks forward to joining forces with RNDC to establish an even stronger foundation of industry knowledge, talent, history and heritage. We see this as the launch pad to bring innovation to life and to usher in a new era for our business and industry.”
Under the terms of the Letter of Intent, Cole will serve as Chief Executive Officer; Bob Hendrickson as Chief Operating Officer; Danny Wirtz as Chief Growth and Strategy Officer; and Baird as Chief Integration Officer.
E. Lloyd Sobel’s role will be announced along with other key senior management appointments prior to the close of the transaction.