Private Equity Across Tiers in Florida: How to Invest Without Blowing up the Three Tier System
Florida’s alcoholic beverage laws make it hard for private equity (PE) investors to “own a little bit of everything” across suppliers, distributors, and retailers. Florida is a three-tier state, and the point of the system is separation: manufacturers sell to distributors, distributors sell to vendors, and vendors buy only from distributors. The Florida Division of Alcoholic Beverages & Tobacco...
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