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SOLD – North Shore Liquor Shop – Lynn Valley

InnHouse Licensed Retail Concepts (iLRC) announces the sale of North Shore Liquor Shop – Lynn Valley. This is the first liquor store transaction for this local, undisclosed private company. The Lynn Valley liquor license was the first Licensed Retail Store (LRS) license acquired by iLRC through its ownership of the Lonsdale Quay Hotel.

In 2004 the store was established under the leadership of Salim Karim. It started with an aggressive acquisition of an occupied leased premise that involved relocating the existing business to an inferior location. Then by retaining the services of leading designers and contractors, redeveloping the site from a butcher shop into an attractive and efficient liquor store, setting the standard for many of subsequent stores. That strategy was fundamental to the success of the store’s penetration into the market proved very successful and over the years. The result was a loyal customer base and strong revenue/profit growth. The sale provides iLRC with the opportunity to realize on a successful investment and re-deploy the capital into new opportunities. “The sale of our interest in the Lynn Valley store comes with mixed emotions”, stated iLRC CEO Salim Karim. “This is where our diversification from the hotel business began. It was the turning point in the growth and success of InnHouse Licensed Retail Concepts. On the one hand it’s always nice to realize on a successful investment, especially when the purchaser is excited that he is on a path to meeting his business objectives. On the other hand “the sale of the store sets us on a new path in the direction of continued diversification and growth of the company”.