ReserveBar, Ridgefield, Conn., has agreed to acquire New York-based Minibar Delivery, a leading marketplace featuring on-demand delivery of wine, spirits, beer, ready-to-drink cocktails, mixers and more. Minibar Delivery facilitates these deliveries by partnering with more than 2,800 retail partner locations nationwide, including independent liquor stores and iconic national brands such as 7-Eleven. The acquisition accelerates ReserveBar's expansion of its retailer fulfillment network and planned introduction of on-demand delivery capabilities.
The two companies plan to link their retailers, customer bases, technology, and delivery modalities to benefit consumers and supplier partners. Minibar Delivery now will offer an even greater selection of products, including special limited editions, new launches, and celebrity-owned spirits, as well as ReserveBar's personalized and engraved bottles and extensive gift offerings. In addition, suppliers will have access to both companies' comprehensive suite of marketing tactics, data and business intelligence, and technology solutions, it says.
The merger also creates an expansive retail footprint, expected to bring the combined number of retailer locations to more than 5,000 by the end of next year, serving virtually all legal drinking age consumers in states that permit shipping and delivery of spirits, wine, Champagne, ready-to-drink cocktails, beer and hard seltzers.
“This acquisition is born out of synergies generated by the complementary eCommerce segments we serve. ReserveBar primarily focuses on premium and luxury spirits, utilizing ground shipping fulfillment, while Minibar Delivery has focused on meeting the customer’s everyday needs for wine, spirits, beer, and ready-to-drink cocktails (RTDs), with on-demand delivery. Together, we can provide our clients with the best purchasing experience in the market,” said Lindsay Held, CEO and co-founder of ReserveBar, in a statement. “We also see significant product cross-over synergies in offering Minibar Delivery customers the special limited editions and celebrity, craft and newly launched bottles that are showcased on ReserveBar.”
The acquisition will further accelerate ReserveBar's deployment of its API technology that allows third parties to offer customers the opportunity to purchase beverage alcohol online in a compliant fashion.
“As a pioneer in the industry, we’re eager to continue our expansion and innovation leadership. ReserveBar is, at its core, a technology company, and we are excited that our planned technology integrations will be extremely powerful for both companies, our partners, and our customers,” said Derek Correia, president of ReserveBar. “The Minibar Delivery acquisition supports our strategic growth across other fronts, including retail footprint expansion, local delivery, consumer data, and business intelligence, and, importantly, talent. They have fantastic people, and we're excited to have them as part of the ReserveBar family.”
Lindsey Andrews, CEO and co-founder of Minibar Delivery, added: “We created Minibar Delivery in an effort to build the best way for consumers to shop online for wine, spirits, and beer. We're thrilled to find a partner in ReserveBar that can allow us to continue to fulfill that mission.”
After the acquisition, Andrews will continue as CEO of Minibar Delivery and will report to Held, whom will also hold the title of executive chairman of Minibar Delivery.
Jim Clerkin, Chairman of ReserveBar, commented: “It is a great pleasure for me to welcome Minibar Delivery into the ReserveBar business. I had the privilege of working with both trailblazing companies during my tenure as the CEO of Moet Hennessy and always had great admiration for both management teams. We are proud that this industry consolidating acquisition firmly establishes ReserveBar as the first spirits eCommerce company that can meet all consumer needs and occasions while accelerating the services and performance we offer to suppliers and retailers.”
Demeter Advisory Group served as financial advisor to ReserveBar, and Loeb & Loeb LLP served as legal counsel. TAP Advisors served as financial advisor to Minibar Delivery, and Goodwin served as legal counsel.
