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After four months of doing the merger-and-acquisition dance, Olinger Distributing Co. Inc. has changed partners again.
Indianapolis-based Olinger, the state's second-largest wine and liquor distributor, plans to sell to a partnership involving its original suitor and a competitor.
Glazer's Wholesale Distributing of Dallas and Chicago-based Romano Brothers Beverage Co. have partnered as M&M Beverages LLC to acquire Olinger.
Olinger officials did not return telephone calls for this story.
Glazer's is the nation's fifth-largest wholesale distributor with annual sales of about $740 million, according to IMPACT Newsletter, an industry trade journal. Romano Brothers is the 12th-largest distributor with sales of about $300 million last year.
Olinger had sales of about $120 million last year, according to IBJ research. It ranks second in Indiana sales behind powerhouse National Wine & Spirits Corp., which had 1997 revenue of about $200 million in Indiana and $485 million overall, according to IMPACT.
The proposed deal between Olinger, Glazer's and M&D Investments, an Illinois investment trust controlled by Romano Brothers, was presented...