MBG seeks to buy RNDC Indiana assets

MBG has signed a letter of intent to acquire substantially all of the assets of Republic National Distributing Company of Indiana, a move that would expand the distributor to six states and widen its footprint in Indiana. The deal still needs final documents, regulatory approvals and bankruptcy court approval, with closing targeted for the fourth quarter of 2026.

Why it matters: - The proposed acquisition would give MBG a larger distribution footprint across six states. - The transaction would deepen MBG's presence in Indiana, one of the most competitive beverage distribution markets in the U.S. - If completed, the deal would add RNDC Indiana's assets, operations and existing supplier and customer relationships to MBG.

What happened: - MBG, a subsidiary of Morales Capital Group, submitted a letter of intent to acquire substantially all of the assets of Republic National Distributing Company of Indiana, LLC. - RNDC Indiana is a joint venture between Republic National Distributing Company and National Wine & Spirits. - The parties are working to prepare and finalize definitive transaction agreements as soon as practicable. - The proposed transaction was announced in Indianapolis on Aug. 28, 2026.

The details: - Under the contemplated terms, MBG would acquire RNDC Indiana's beverage assets and operations if the transaction closes. - The business transfer would continue supplier and customer relationships across Indiana. - Eduardo Morales, chairman of Morales Capital Group, said the deal would help MBG serve customers better and invest for continued growth. - Morales also said the addition of Indiana would expand MBG's footprint and reinforce its long-term commitment to every market it serves. - Morales said the proposed combination could bring together the Morales family and the LaCrosse family under a single platform. - Jim LaCrosse, chairman of National Wine & Spirits, said the company is excited about the potential partnership in Indiana. - The transaction remains subject to definitive documentation, customary regulatory approvals and closing conditions. - The deal also needs approval from the U.S. Bankruptcy Court for the Southern District of Texas because RNDC is in Chapter 11. - RNDC, RNDC Indiana and National Wine & Spirits are continuing to operate in the ordinary course while the sale process moves forward. - MBG and National Wine & Spirits are targeting a definitive purchase agreement in the near term. - Closing is expected in the fourth quarter of 2026, if court approval and other conditions are met. - Both parties say they will focus on supporting employees, customers and suppliers during the process.

Between the lines: - The Chapter 11 process adds timing and execution risk to a deal that otherwise appears strategically straightforward. - MBG is using the transaction to scale in a market where distribution share and supplier relationships matter. - The family-legacy framing signals continuity and relationship preservation, not just asset transfer.

What's next: - MBG and the other parties need to finalize a purchase agreement and complete diligence. - The transaction still needs court and regulatory sign-off before closing. - If approved, the deal could close in the fourth quarter of 2026.

The bottom line: - MBG is moving to turn a letter of intent into a broader Indiana expansion, but bankruptcy court approval remains the key hurdle.