Wally's Wine & Spirits has been acquired by Maurice and Paul Marciano

Steve Wallace, the owner of Wally's Wine & Spirits (Wally’s”), has sold the company to Maurice and Paul Marciano.

Founded in 1968, Wally's is a long-standing wine retailer and auction house with a brick and mortar location in Los Angeles. Wally’s also offers an e-commerce store which includes a corporate gift store.

The Marcianos are the founders of Guess, the American clothing brand and retailer. In addition to clothing for both men and women, Guess markets other fashion accessories such as watches, jewelry, perfumes and shoes.

Oaklins' team in Los Angeles advised the seller in this transaction.