The buyer is Indiana Liquor Group. Terms weren’t disclosed.
Secretary of the buyer is Nathan Feldman, a former Indiana Commerce Secretary, having succeeded Mickey Mauer, founder of IBJ Corp., publisher of the Indianapolis Business Journal, the Indiana Lawyer, Court & Commercial Record and IBJ Custom Publishing, in that position.
Feldman recently took a one-third stake in IBJ Corp. and is expected to become majority owner at some point in the future.
Feldman’s a lawyer who recently was president and co-owner of Home Health Depot Inc., in which Mauer and IBJ co-owner Bob Schloss also had an interest. His partner in Home Health Depot, David Hartley, is a partner and president of Save-On Liquor.
The seller is Phillip E. Miller, who started and ran Save-On for nearly 40 years. “He grew the company organically and acquired some stores,” Feltman said. “He is getting close to 80 and just felt it was time to retire.”