Drinks wholesaler Waverley TBS has silenced speculation over the future of its United Wine Merchants (UWM) distribution operation in Northern Ireland, which claims to be the province's largest.
Reports had suggested the UK group might sell the business, based in Craigavon, County Armagh. However Waverley's recently appointed managing director Gordon Johncox confirmed that it would retain ownership of the operation.
"We want to make it clear that we've decided to retain UWM as part of the Waverley TBS group," he said.
"It has always been run as a separate business and that will continue. But through integrating it more with the core Waverley group we will have stronger links," he added.
However Johncox added that Jim O'Neill, who founded UWM in 1985, was stepping down from his role as managing director and would be replaced by UWM veteran Martin McAuley with immediate effect.
Johncox, the former group procurement director at Scottish & Newcastle (S&N) who joined Waverley TBS less than two months ago also announced the departure of Steve Brogan, Waverley's trading director, national sales and off trade. He is being replaced by another former S&N executive, Mark Riley.
"Steve has gone off to pursue other opportunities, while Mark is a very strong addition to our executive team," Johncox said.
Together with his fellow executives Johncox is undertaking a strategic review of the Waverley operation, with its conclusions expected later next month.