There is perhaps no industry more prone to valuation innuendo than that of alcoholic beverage distribution. Because there is no silver bullet to the valuation of beverage wholesalers, appraisers must develop a cohesive position to properly define and develop their valuations, all with the understanding that fair market value can and often will contrast with marketplace rumors and anecdotal transaction information. Join Mercer Capital's Timothy Lee as he reviews an abundance of issues that business appraisers must address and reconcile to develop plausible valuations. Lee's beverage industry experience has been focused on the malt beverage segment and includes valuation and advisory projects related to trust and estate activities, buyout financing, ownership succession, shareholder disputes, brand transactions, and more.