Busa Wine and Spirits: Sale of a multi-generational family-owned business with four liquor stores in Lexington, Woburn and Salem, MA
Industry Expertise
Location
Massachusetts: West of Boston (Lexington and Woburn) and North of Boston (Salem)
Business Broker
Situation
Busa Wine and Spirits is a well-known family-owned business with four stores and deep roots in Lexington, Woburn and Salem, MA. In some locations, the owners had the stores for over 40 years, with multi-generational leadership including brothers and their sons. This was one of the longest-running businesses in the liquor store industry – as well as one of the longest-running stores that BayState Business Brokers have sold.
The owners decided to sell the business because the Busas wanted to retire, and their sons who had been running the business wanted to explore other opportunities.
BayState Business Brokers’ Approach
Sarah Grossman, Principal of BayState Business Brokers, had a long-standing business relationship with Dan Busa due to BayState’s reputation as the top liquor store business broker in the area.
With four stores, it was most advantageous to find one buyer to buy all stores and properties. Sarah worked with the BayState Business Brokers team to value each liquor store and to price each one correctly – all while preparing for a cohesive transition with seamless logistics necessary to close on all four stores.
With their deep connections in the local liquor store industry, BayState was able to quickly find one buyer who made a compelling offer that aligned with the valuation of all four stores, including the real estate.
Results
Although it was challenging to package and sell four stores during the pandemic, Sarah and BayState’s team worked with the buyer and seller to guide them through all steps of the sale and transition, including staffing, valuing inventory and ensuring continuity.
The Busa family and their four liquor stores had been part of their local communities in Salem, Woburn and Lexington, MA for decades, so the decision to sell was a big decision for the family. Sarah Grossman and the team at BayState Business Brokers were thrilled that the new owners will maintain the name and legacy of Busa Wine and Spirits as they look forward to continued success.
