Blue Equity has acquired spirits, beer, and wine retailer Liquor Barn from Canadian firm Liquor Stores.

Headquartered in Kentucky, Blue Equity owns and operates Party Mart Stores, which offers a large selection of spirits, beer, wine and party supplies.

Blue Equity chairman and managing director Jonathan Blue said: “The acquisition of the Liquor Barn assets is the perfect next step in our quest to become the leading retailer for spirits, beer, wine, and other products to our loyal and growing customer base in Kentucky and beyond.

“Blue Equity will be relocating its corporate offices and all operations of Liquor Barn to Louisville.”

“We will also be able to secure nearly 175 full-time jobs for the Commonwealth and build on the $10 million annual payroll base as we continue to grow the business.”

As per the terms of the deal, Blue Equity will be relocating its corporate offices and all operations of Liquor Barn to Louisville.

Liquor Barn currently operates 15 retail locations in Kentucky, which includes six in Louisville and another six in Lexington, as well as stores in Danville, Bowling Green, and Elizabethtown.

Liquor Stores senior vice-president and chief financial officer Matthew Rudd said: “We are very fortunate to have built a relationship with Jonathan Blue and his team at Blue Equity. We believe this quality of local ownership will position the business for significant improvement and continued success.”