Ex-Yankee Spirits Owner Back In The Business | Cimini buys two Worcester area stores
Photo/Brandon Butler
Inside Austin Liquors
Photo/File
MOVING ON: Mike Cimini was bought out of the Yankee Spirits business by his father earlier this year. He took some of the money from that deal and bought two liquor stores in Worcester and Shrewsbury.
Michael Cimini just couldn’t stay out of the liquor store business for too long.
“It’s certainly a fun business, especially the part about sampling different beers and wine,” said Cimini, former owner of Yankee Spirits, which has three stores in Attleboro, Sturbridge and Swansea.
Cimini had a fallout with Yankee Spirits, and his father, who bought out Cimini’s share of the company for $5 million this summer.
Now Cimini is jumping back into the Central Massachusetts liquor market head first with plans to purchase Austin Liquors, which has a store on Goldstar Boulevard in Worcester and another on Route 9 in Shrewsbury.
And that’s not all. Cimini is also using his cash from the Yankee Spirits sale to purchase another liquor store in North Haven, Conn., which will add to the liquor store he already owns in Southington, Conn.
It’s not just about tasting beers and wine, however. He’s serious about expanding the Austin brand and establishing a presence in the Worcester area.
Shot For Shot
After the purchase is complete, which he expects should be in any day now (he’s just waiting for state approvals to be finalized), Cimini said he hopes to increase the wine services offered through the store. He wants to train or hire employees that can give recommendations and analysis of various wines.
Plus, he also wants to get the Austin name out in the community more by sponsoring tastings or through partnering with local restaurants on special events.
Austin Liquors was started and has been owned by Bill Iandoli for 35 years. Cimini is buying the two-store chain for about $2.5 million, he said, plus some other considerations.
For Iandoli, the move is a life transition. He started the store in 1975 after his father and five uncles had a successful run managing the Iandoli supermarket chain, which was sold in the mid-1980s to Shaws Supermarkets.
Over the past 35 years Iandoli, now 57, grew the Austin brand to include the store in Shrewsbury. He’s confident Cimini will be able to step in and take the business to the next level.
“I think he’s going to turn the heat up on the competition by offering competitive pricing and good service,” Iandoli said. “It’ll be a good thing for the Worcester and Shrewsbury consumer.”
But other local liquor store owners don’t seem concerned with Cimini’s appearance in the Worcester market.
“I can’t say I’m worried or concerned,” said Jim Vasiliadis, owner of O’Hara’s Wine and Liquors in Worcester. “We usually try to maintain a good working relationship with other store owners in the area, so I look forward to it.”
Vasiliadis said there’s “plenty of room” in the Worcester market for all of the stores. Plus, he said, he looks favorably on Cimini’s plans to offer wine critiques to customers. Having a more educated customer benefits all liquor stores, Vasiliadis said, because it allows the stores to cater to those shoppers.
For others who follow the Worcester liquor market closely, Cimini’s entrance onto the scene is notable.
“It’s a good move,” said Christopher George, owner of George & Co. in Worcester, a business brokerage services firm.
Cimini’s experience in managing a successful liquor store, in Yankee Spirits, and specifically growing that business’s wine selection bodes well for his chances to succeed with Austin Liquors, George said. Plus, Austin is already a well-established brand, so Cimini will only be adding to it.
One reason Austin has remained strong despite the economic downturn, George said, is because liquor stores are generally a recession-proof business. Typically during a recession, liquor store sales volume can remain steady, if not increase. What will fall is the quality and price point of the alcohol being purchased, according to George.
“Instead of reaching for the top-shelf Grey Goose or Belvedere, you may see customers reaching down for the Smirnoff,” he said. “Down the line, the customers that were getting Smirnoff may go down to even lower cost items.”
At the end of the day, George said, liquor store sales come down to two major factors: price and convenience.
“The liquor store industry is driven by convenience; you want to be on the right -hand side of people’s commute home,” he said.
Offer competitive prices and a convenient location and just about any liquor store can succeed, he said.
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