The Southern Lakes' seven Betty's Liquor Store outlets have been sold by Good Group Ltd, with Beaver Liquor Ltd to take over from April 1.
The group comprises three stores in Queenstown, two in Frankton, one in Arrowtown and one in Wanaka. Good Group Ltd director Russell Gray said the sale made "good strategic sense" and enabled the group to focus on its Queenstown, Wanaka, Christchurch and Auckland hospitality outlets.
Beaver Liquor has supplied liquor to the hospitality trade since 2000 and managing director Ferg Spary said the purchase was a natural fit for the business.
"The synergies provide a great deal of upside for us as well as giving us a stronger platform to negotiate better pricing for our existing customers," said Mr Spary, who was initially involved with Betty's as a supplier and later as a Good Group shareholder.
Beaver Liquor general manager Michael Morgan will oversee the running of the stores.
The remaining Betty's Liquor Stores in Kaikoura, Timaru and Dunedin are still owned and operated by Good Group.
