It was 10 years ago that the late Joey Smith left a thriving career in Florida commercial real estate to return to his home state of Maryland and form Prestige Beverage Group (PBG). Smith did not live to see this decade milestone. Sadly, he passed away from
lung cancer at the age of 33 in April 2016. But even in his last weeks, he put a plan
into motion that would ensure the long-term viability of his business.
About two years prior to his death, Smith began exploring the possibility of a merger with Ledroit Brands. He and Michael Cherner, who was then a managing partner at Ledroit, realized they had a similar vision. They also recognized the potential for increased market synergy. At the time, PBG was focused on the Maryland, Delaware, and D.C. markets, while Ledroit covered the District of Columbia exclusively. Their belief was that by combining the two firms, it would allow them to more effectively serve their customers and suppliers in all three markets.