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Franchise and Territory Protection: BDC has agreements
with its suppliers providing certain rights to the
wholesaler in its relationship with the supplier
and granting exclusive territories which is
supported by a strong state beer franchise law.
Regarding the nature of sale, price, and terms, the package
states:
VIII.
Nature of Sale, Price and Terms
Assets Purchased from BDC and Owner, Individually
Nature of Sale
Sale of certain corporate assets which are within the
general categories set forth below and a covenant not
to compete and a consulting agreement from the owner
individually.
Price
Asset Price
Accounts Receivable $60,000 (1)
Inventories 300,000 (1)
Equipment 105,000 (2)
Warehouse and Land 300,000
Intangibles 1,200,000 (3)
Total 1,965,000
Notes: (1) These are estimates; actual amounts will
be determined at closing with inventory
priced at current laid-in-costs, i.e.,
current supplier prices and freight charges
and taxes.
(2) As these assets will likely change in
the normal course of business, the purchase
price will change accordingly.
(3) Intangibles amount to be allocated among
company intangible assets (customer lists,
franchise rights, goodwill, etc.) and
agreements with owner.
Terms--Cash
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Last modified: May 25, 2011