Hilco Streambank was retained by The Great Atlantic & Pacific Tea Company, Inc. (the “Company”) to market and sell its intellectual property and related assets, including the Best Cellars® banner.
The Best Cellars® wine store banner was launched in New York City in 1996 as a new concept in selling affordable wines and liquor assorted and displayed based on proprietary categories reflecting taste and texture rather than region, varietal or price. The Company acquired the brand in 2007 and operated ten Best Cellars wine shops throughout Connecticut, New York and New Jersey.
Consumers associated the Best Cellars® brand with the place to buy affordable wines that exceed their expectations. In 2009, Best Cellars® won Wine Enthusiast’s Wine Star Retailer of the Year Award in recognition of its success in demystifying wine for a broad range of consumers, its obsession with finding great values, its dedication to offering broad selection and its educational initiatives.
Hilco Streambank developed a marketing program designed for the sale of the Best Cellars® wine store banner and related intellectual property assets. We reached out to our network of potential buyers with a teaser detailing the opportunity and populated a virtual data room containing confidential materials regarding the assets available for sale.
In April 2017, the Company closed the sale of the Best Cellars® wine store banner. The terms of the sale have not been disclosed.