In this Brewbound Podcast interview, Jessica Infante sits down with Nicole Shustack, a partner at ArentFox Schiff, where she leads the firm’s beverage alcohol regulatory practice. The conversation comes amid a wave of major M&A activity in the distribution middle tier, including RNDC’s high-profile exit and Reyes Beverage Group’s expanding footprint in wine and spirits, consolidation on a scale the industry hasn’t seen since Prohibition. Shustack, a returning guest, unpacks what these shifts mean for suppliers navigating wholesaler relationships, brand transactions, and outside investment in a highly regulated industry.
Shustack stresses that wholesaler relationships are notoriously hard to exit, making proactive contract review, documentation, and leverage essential before a distributor changes hands. She also covers what brands should evaluate when selling, merging with, or acquiring another brewery, since franchise laws vary by state and can shape deal structure. On investment, she flags tied-house rules and disclosure requirements that often catch outside investors off guard. Her core advice: engage legal counsel early and treat due diligence as an ongoing practice. Listeners can connect with Shustack and the ArentFox Schiff team via the firm’s Food and Beverage practice page or on LinkedIn.