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Monday, June 15, 2020

D.E.P.'s Purchased by Private Equity Firm Bolstered by Online Sales

D.E.P.'s, with locations in Fort Thomas and in Covington, was purchased by Blue Equity, LLC, in April. Blue Equity owns several Liquor Barn and Party Mart stores.  (photo: FTM file)

By Robin Gee

Louisville-based Blue Equity, LLC, has purchased Discount Everyday Prices, also known as D.E.P.’s, a purveyor of wine and liquor. The company has two locations in Northern Kentucky including the location at 424 Alexandria Pike in Fort Thomas.

Despite the pandemic that has slowed sales for many retailers across the country, Blue Equity, which already owns 18 Liquor Barn and Party Mart stores, has experienced strong sales growth in both delivery and online sales this year.

According to a recent report in the Cincinnati Business Courier, Blue Equity's Director of Business Development Edward Harrison III credited this growth with the company’s efforts to establish a strong digital sale presence even before the pandemic. In fact, the company also invested in City Hive, Inc., the company that created the sales app for Liquor Barn and other liquor retailers.

Overall, adult beverage sellers experienced record growth across the US between March 15 and May 15.  City Hive, whose digital platform is used by 1,500 beverage alcohol establishments in 500 cities, reported a growth of 700 percent in online sales and an increase of 36 percent in over-the-counter sales during that period.

With the acquisition of the D.E.P.'s stores in Fort Thomas and Covington, Blue Equity now owns 20 retail liquor stores employing more than 400 people.

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