The liquor store's 160-plus locations will be used to fulfill online orders for booze, snacks and ... [+] other essentials. Patrick T. Fallon/BloombergDigital convenience store GoPuff is spending $350 million to buy liquor store chain BevMo!, a move that will quickly establish its presence in states like California. The acquisition will give GoPuff a foothold in California, Arizona and Washington, states where it has previously lacked a significant presence. Otherwise, GoPuff would face the task of securing liquor licenses in new markets one by one. It has taken this approach in the past, but local authorities are slow and sometimes reluctant to grant the company a liquor license.

Source: Forbes November 05, 2020 20:21 UTC