FORT WAYNE, Ind. (WFFT) — Owners of an Allen County liquor store chain are selling their family-owned business as they look forward to the future.
Officials with Cap n' Cork announced Wednesday that the company is in the process of selling its assets to the Indianapolis-based Liquor Store Chain, Big Red Liquors.
They say the move comes as Cap n' Cork's co-owners Joe Doust and Andy Lebamoff plan their retirement from the family-owned business.
The brothers-in-law originally purchased the then eight-store chain from Lebamoff's father, George, in 1995.
Over the past 26 years, the business has expanded the brand and the chain to 15 retail locations in Fort Wayne and New Haven.
The Cap n' Cork brand and stores, all located in Allen County, will continue to operate on their own under the combined Cap n' Cork and Big Red Liquors leadership, according to officials with the company.
The acquisition is led by Big Red Liquors co-owners Tony Knoble and Justin Collins, along with CEO and President Don Rix.
The sale is expected to close in early July and all current Cap n' Cork employees are expected to keep their positions.