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According to the statement, the joint company would lead to operating efficiencies, enhanced customer service and make more choice for merchants. However, not everybody is cheering.
On Wednesday, commerce groups representing 100 independent beer vendors and 13,000 bodega owners are going to hold a media conference to protest the purchase on the grounds it will further limit competition from the New York beer business, developing a monopolistic system which will push the amount of beer to smaller retailers and retailers.
These tiny businesses are also advocating passing of new laws --Beer Price Posting and Revenue Tax Reform Act--which would demand beer vendors to openly post their wholesale rates.
Ramon Murphy, president at the Bodega Association of United States, voiced concern with the purchase, noting that his constituents are going to have fewer choices.
He said the laws will guard their interests and those of customers. "Now [Manhattan Beer] will restrain at least 80 percent of the selling of beers and they're able to charge any price they need," Mr Murphy said. "For us, it is going to be very hard and we'll need to pass the high costs to our clients that are in low cost neighbourhoods.
" The agreement is subject to approval by the vendors' providers and government agencies, such as the U.S. Department of Justice.