“The beer distributorship landscape is littered with rules of thumb pertaining to valuation,” says Timothy R. Lee and Laura J. Stevens (Mercer Capital) in their recent whitepaper Understanding the Value of a Beer Wholesale Distributor.  “One distributorship may not market in the same territory as another distributorship.  It may not have the same margins or prospects for growth. Its facilities and fleet may be different. Why should every house have the same valuation?” the authors add.