WORCESTER – Groups led by a liquor store operator and his brother-in-law have acquired two Austin Liquors stores in deals totaling $6.4 million.
The new owners have retained the Austin Liquors name and employees, a group of about 25 workers, at the stores at 370 Park Ave. and 117 Gold Star Blvd.
“We know Austin Liquors is a big name in Worcester,” said Jay Patel, an officer of the Massachusetts Package Stores Association and operator of Powers Wine and Liquor in Lowell. “We want to keep the tradition.”
A group operating under the corporate name Guru Ne Sang Corp. acquired the Park Avenue store for $2.5 million, according to a filing with the state Alcoholic Beverages Control Commission.
The filing lists Mr. Patel holding a 70 percent interest in the group. Other investors in the group are Yogesh Patel and Pankajkumar Patel, the filing shows.
A second group, Gunatit Ne Sang Corp., acquired the Gold Star Boulevard store for $3.9 million, according to a separate ABCC filing. Jignesh Pachani, Mr. Patel’s brother-in-law, holds a 90 percent interest in the group. The remainder is held by Nitant Raval, the filing shows.
Austin Liquors reported earlier this year that it had placed its five stores up for sale ahead of a 2020 change in Massachusetts law that will allow individuals and businesses to acquire additional package store licenses. In addition to the Worcester stores, the company owned package store businesses in Shrewsbury, Natick and Mansfield.
Michael D. Cimini, president of privately held Austin Liquor Co. Inc., said at the time that the law change meant 2020 represented a date to “get big or get out” of the package store industry.
The new owners of the Austin Liquors stores in Worcester plan to update lighting and counters at the stores, and they have scheduled a celebration June 30 at the Park Avenue store.