Hi yzerman10, you can import the branch office DB to your local SQL server and then set the branch office ePO to connect to the new DB location.
But be advise that you'll need a huge broadband connection between the branch office ePO server and your local SQL database ¡
So long as each ePO has its own instance it does not matter if they are on the same Sql server or not.
As stated what really matters here is the connection speed from the ePO server to the DB instance and that the DB server spec is up to the job of running multiple instances of ePO databases.
If your Sql server is in a separate physical location after the move then you will need a connection speed equivalent and stable enough as if it were still on the same network otherwise it will become a significant performance bottleneck. Data exchange between ePO server & Sql DB is constant and heavy. It really needs a good link between the two.
If you can't meet that criteria then don't make the consolidation.