Nevada’s largest liquor store chain acquired by Texas company

Nevada’s largest liquor store chain has been acquired by a Texas‑based company. Spec’s Family Corp., the fourth‑generation, family‑owned operator behind Spec’s Wines, Spirits & Finer Foods and founded in 1962, completed the purchase of Lee’s Discount Liquor in June. The deal marks Spec’s first entry into the Nevada market. According to Spec’s, Lee’s will retain its name, existing partnerships and continue to operate independently in Nevada. Former Lee’s CEO Nami Lee will remain with the business in an advisory capacity for five years. Financial terms of the transaction were not disclosed. Lee’s Discount Liquor was established in Las Vegas in 1981 and grew to become Nevada’s largest independent liquor chain. The company now runs 23 locations statewide, with the majority situated in the Las Vegas Valley. John Rydman, who serves as CEO of Spec’s Family Corp. and oversees Lee’s, said the two families have been friends since the early 1980s. After the deaths of Lee’s founder Hae Un Lee and his son Kenny Lee, Rydman noted the family was “interested in trying to sell,” although “serious talks” did not begin until February. Hae Un Lee passed away in 2021, and Kenny Lee died later that year in a car crash. Following those losses, Kenny Lee’s widow, Nami Lee, assumed the role of CEO. Rydman recalled, “We really had talked earlier Mr. (Hae Un) Lee passed that, you know, someday possibly we’ll bash thing together, but that time ne'er came,” said Rydman. He added that the transition will involve “minor tweaks” while aiming to “make Lee’s adjacent healthier than it is today.” Rydman also said he hopes to introduce new products such as cigars to the stores. Regarding the acquisition itself, Rydman remarked, “It wasn’t a immense strategical determination to spell searching it out,” said Rydman of the acquisition. “They benignant of called connected us, and we were ready.” Spec’s stated its intention is to “keep the bequest of Lee’s going” in Nevada. *This is a developing story. Check back for updates.*