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Maloofs sell wine, liquor operation

Wednesday, Dec. 15, 1999 | 10:38 a.m.

THE ASSOCIATED PRESS

ALBUQUERQUE -- The Maloof family built an empire in New Mexico by selling alcoholic beverages, and now it is poised to sell its wine and liquor distributing business.

A deal that would sell Quality Import Co. to National Distributing Co. of Atlanta is set to close Jan. 17, said Pat Vogel, manager of National's Albuquerque location. Vogel would not disclose the purchase price.

"Yes we did sell the liquor division, but we didn't sell the beer division," Colleen Maloof said.

When asked why the family decided to sell the division now, she responded, "We're in business, when you're in business you buy and you sell."

The Maloofs, a prominent Albuquerque family, made their fortune selling beer. The family has owned the statewide distribution rights for Coors since 1937.

The family has financial interests in banking, professional sports, casinos, and beer and alcohol distributorships. Among its holdings, the Maloof Companies own the NBA's Sacramento Kings, the Fiesta hotel-casino in North Las Vegas and the Central Palace Casino in Colorado.

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