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Wednesday, April 04, 2007

Sam's sells

Sam's Wine and Spirits, the legendary Chicago wine superstore, has agreed to sell an 80 percent stake to Arbor Private Investments, a private-equity group that specializes in the food and beverage industry. Brian Rosen, the grandson of founder Sam Rosen, will retain a 20 percent stake and become the company's president.

The sale, which will enable Sam's to expand throughout Illinois, is seen by analysts as an indication that the wine industry is maturing. According to The Wine Institute, the U.S. is poised to replace France as the world's biggest wine-drinking nation in three years.
M. Zane Grey, 9:57 PM