LIQUOR STORES NA LTD 4.70 PCT DEBS T.LIQ.DB.B

Nice deal

[d_trump]

These 2 NJ stores are huge - $25M USD each.  What many people don't realize is that LIQ's US business is already 30% of their sales (even though only 15% of their stores are US).  And the CONN and MASS stores are 16,000 ft which is much bigger than the typical CDN store footprint.  So by 2017, LIQ will probably be close to 50% US.   Much better than expanding in Canada.  There may be an opportunity in ON down the road but by looking at how the ON government has botched the roll out of beer sales in grocery stores - I hope LIQ takes a pass on any opportunity in ON.