Williams Wholesalers is a successful beer distributor operating in three counties surrounding Corpus Christi, Texas. Anheuser-Busch is the world’s largest brewer, and supplied Budweiser, Natural, and other brands to Williams Wholesalers.
Anheuser-Busch, relying on a clause in its contract with distributors, disapproved a proposed sale of the distributor. AEG was retained to examine (i) whether the disapproval was "reasonable" under the agreement and Texas law, (ii) whether the financial evaluation was conducted properly and consistently with the contract and law, and (iii) evaluate the market value of the business.
We prepared an extensive report filed in the case, which included extensive market analysis; a review of the industry, contract, and the applicable law; a corrected financial evaluation; and an analysis of market value under various methods of estimating business value.