Bulk Sale Offering of Assets Acquired in the 363 Sale of Farin Swanson

All assets including over $37 million in wholesale cost inventory of wine & spirits, intellectual property, as well as the machinery & equipment of Fairn & Swanson, a bankrupt duty-free operator serving the cruise industry.

Completed

TIME

Bids Due by 2pm (PT) June 11, 2021

Asset Preview

By Appointment Only

DATE

December 17, 2021

LOCATION

Miami, Oakland, Seattle

** All Product Must Be Exported Outside of the U.S. **

Bulk Sales Offering –  Inventory from Cruise Line Supplier

Acquired in the 363 Sale of Fairn & Swanson, Inc.

Onyx, with a strategic JV partner (one of the world’s largest duty-free and in-flight operators), executed an outright speculative purchase of all assets of Fairn & Swanson, a bankrupt duty-free operator serving the cruise industry, in October 2020 through a 363 Sale. The asset that we acquired included over $37 million in wholesale cost bottled inventory of wine and spirits (including over 180,000 cases of wine), intellectual property, and machinery and equipment. The US Customs restriction of not being able to sell directly into the domestic market required alternative strategies with a focus on the international and duty-free markets. The initial phase of the project also included the closure of each of the company’s three distribution warehouses.

PLEASE NOTE THE FOLLOWING TERMS AND CONDITIONS APPLIED:

  • All Sales are FOB Miami, FL
  • All Sales are As-Is, Where-Is – with No Representations and/or Warranties
  • All Sales Final