Bemidji Distributing Co., Inc. - Page 4




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          that year, 130 were "on-premises" retail outlets (i.e., bars and            
          restaurants), and 112 were "off-premises" retail outlets.  Mr.              
          Langdon had lived in Bemidji all his life and had made it a point           
          to know all the tavern and restaurant operators in town.  Some              
          customers had been personal friends for as long as 20 years, but            
          there was a large turnover of others because many were tavern               
          owners or operators who tended to turn over their businesses.               
               In 1990, BDC served a geographic market with approximately             
          74,000 permanent residents.  Of those, about 25,000 lived within            
          5 miles of Bemidji, the only city of significant size within a              
          100-mile radius.  In addition, a large number of part-time summer           
          residents, tourists, and others visit the area each year.  There            
          are around 100 resorts in the region around Bemidji, with  large            
          tracts of Federal, State, and privately owned forests, as well as           
          lakes and rivers.  Itasca State Park is 32 miles southwest of               
          Bemidji.                                                                    
              During 1990, wholesale beer distributors in that market sold           
          about 700,000 cases of beer.  Of that, BDC sold 369,864 cases of            
          beer on the basis of "24/12 ounce equivalents".  BDC held                   
          exclusive distribution rights from Miller Brewing Co., Stroh's              
          Brewing Co., Minnesota Brewing Co., Leinenkugel Brewing Co., and            
          Martlet Importing Co. in all of Beltrami, Clearwater, and Hubbard           
          Counties and in parts of Cass, Itasca, Koochiching, and Polk                
          Counties.  The only large breweries with which it did not have              






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