Matrix Announces the Successful Sale of Bond Distributing Company
RICHMOND, VA / BALTIMORE, MD – January 10, 2023 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent investment bank, is pleased to announce the sale of Bond Distributing Company (“Bond”) to Origlio Beverage (“Origlio”).
Origlio acquired Bond in partnership with “HOBO” (the Honickman, Origlio, and Bergson families), which has ownership interest in Amoskeag Beverages in NH, Burke Distributing Corporation in MA, Kramer Beverage in NJ, Manhattan Beer in NY, and Finley Distributors in AZ. Founded in 1933 by Antonio Origlio in Philadelphia, PA, Origlio is a leading beverage distributor of Molson Coors, Constellation, and various other craft beverages in the Southeast Pennsylvania market.
Headquartered in Baltimore, MD, Bond is a leading distributor of Molson Coors, Boston Beer, Yuengling, and various other craft beverages in Baltimore City, Baltimore County, Carroll County, Cecil County, Harford County and Howard County in the State of Maryland. Bond’s product offerings include a highly curated portfolio of beer, malt beverages, wine, spirits, and non-alcoholic beverages.
Matrix provided sell-side merger and acquisition advisory services to Bond, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the transaction. The transaction was managed by John Whalen, Managing Director and Head of Matrix’s Capital Advisory Investment Banking Group; Ryan Weir, Vice President; and Garrett Novotny, Analyst, CPA.
Regarding Matrix’s advisory services, Randi Settleman, President of Bond, commented, “My family and I have been extremely impressed with the Matrix Team’s performance and competency in leading this important effort. The professionalism, industry knowledge, and work ethic they displayed were exemplary and we couldn’t have effected this successful transaction without them.”
Mr. Whalen added, “Over 75 years and through multiple generations of family ownership, Bond has built a highly successful and well-respected beverage distribution platform. Matrix was privileged to represent the shareholders in this transaction.”
Venable LLP served as legal counsel for Bond.