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From:Anne Bogart

To:Craig W. Bulkley; Stephen J. Judge (sjudge@wadleighlaw.com); Stephen J. Judge

Cc:Joseph W. Mollica; Michael R. Milligan

Subject:Notice of Decision - Law Warehouse

Date:Friday, December 21, 2012 12:33:21 PM

Attachments:Notice of Decision - Law Warehouses.pdf

This was received today.

Anne Bogart

Administrative Assistant

Office of the Commissioners

NH State Liquor Commission

50 Storrs St, PO Box 503

Concord, NH 03302-0503

abogart@liquor.state.nh.us (603) 230-7005 (603) 271-1107, fax

From:Anne Bogart

To:Craig W. Bulkley; Stephen J. Judge (sjudge@wadleighlaw.com); Stephen J. Judge

Cc:Joseph W. Mollica; Michael R. Milligan

Subject:Notice of Decision - Law Warehouse

Date:Friday, December 21, 2012 12:33:21 PM

Attachments:Notice of Decision - Law Warehouses.pdf

This was received today.

Anne Bogart

Administrative Assistant

Office of the Commissioners

NH State Liquor Commission

50 Storrs St, PO Box 503

Concord, NH 03302-0503

abogart@liquor.state.nh.us (603) 230-7005 (603) 271-1107, fax

From:Anne Bogart

To:Craig W. Bulkley; Stephen J. Judge (sjudge@wadleighlaw.com); Stephen J. Judge

Cc:Joseph W. Mollica; Michael R. Milligan

Subject:Notice of Decision - Law Warehouse

Date:Friday, December 21, 2012 12:33:21 PM

Attachments:Notice of Decision - Law Warehouses.pdf

This was received today.

Anne Bogart

Administrative Assistant

Office of the Commissioners

NH State Liquor Commission

50 Storrs St, PO Box 503

Concord, NH 03302-0503

abogart@liquor.state.nh.us (603) 230-7005 (603) 271-1107, fax

From:Mark Brown

To:Michael R. Milligan

Subject:Industry News Update

Date:Wednesday, December 19, 2012 5:07:40 AM

Please consider the environment before printing this e-mail.

Suntory eyes food and beverage IPO

Source: Financial Times

By Michiyo Nakamoto in Tokyo

Dec 18th

Suntory is to list its food and non-alcoholic beverage unit in an initial public offering as it seeks to acquire more

businesses abroad and diversify its revenue stream.

The privately held drinks group, which owns Orangina Schweppes, said in a statement it planned to list

Suntory Beverage and Food and speed up its overseas expansion through an aggressive mergers and acquisitions strategy.

The move comes as Japanese food and beverage companies face a difficult market at home, where excessive

competition has put pressure on profitability.

Kirin and Asahi, Japan's leading beer groups, have been seeking new revenue sources by expanding overseas

through M&A, as they face a declining population at home.

Kirin, which owns Lion, the beverage and food group in Australia as well as a 48 per cent stake in San Miguel

Brewery in the Philippines, is locked in

a takeover battle for Fraser and Neave, the Singapore soft drinks group, in which it has a 14.8 per cent stake. Asahi owns Independent Liquor in Australia, among other overseas assets.

Satoshi Fujiwara, analyst at Nomura in Tokyo, said: "There is over-competition in Japan, which is squeezing

profit margins." He added that the drinks groups would prefer to buy beer companies quotesdbs_dbs26.pdfusesText_32

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