Beverage News / Wine & Spirits

Beam announces Pinnacle acquisition

April 23, 2012
KEYWORDS beam / pinnacle / Vodka
/ Print / Reprints /
ShareMore
/ Text Size+

Beam Inc., Deerfield, Ill., announced a definitive agreement with White Rock Distilleries, Lewiston, Maine, to acquire Pinnacle Vodka, Calico Jack rum and other related assets for $605 million in cash. Pinnacle Vodka’s 2012 volumes are expected to exceed 3 million 9-liter cases and will significantly enhance Beam’s presence in the growing vodka category, the company said.

“Pinnacle is an excellent strategic fit for Beam, giving us a strong and exciting growth platform in the sweet-spot of the attractive vodka category,” said Matt Shattock, president and chief executive officer of Beam, in a statement. “With the synergy-driven addition of Pinnacle, which will become one of our largest power brands, Beam will further enhance its ability to maximize value for shareholders.”

Pinnacle’s portfolio includes unflavored, which was the U.S. market’s fastest-growing non-flavored imported vodka in 2011, as well as flavored vodkas, including its Whipped dessert-flavored vodkas. The vodka has a suggested retail price of $12.99 to $13.99 for a 750-ml. bottle.

The acquisition fits into Beam’s strategy of building presence in the ready-to-serve cocktails, Irish whiskey and vodka categories with bolt-on acquisitions that leverage the company’s strengths and drive return for shareholders, Shattock said in a statement. He added that Beam plans to increase its brand investment in Pinnacle and leverage the company’s marketing, innovation and global distribution assets to continue growing the brand.

Paul Coulombe, chief executive officer of White Rock Distilleries, said in a statement: “We’ve built Pinnacle into the fastest-growing spirits brand in the U.S., and I’m pleased to see it find a home at Beam, a fast-growing spirits leader committed to building great brands. I’m confident the team at Beam will utilize their tremendous reach, scale and passion to take Pinnacle to even greater heights and establish it as one of the spirits industry’s truly iconic vodka brands. Everyone at White Rock can be very proud of what we’ve built and very excited about where Pinnacle is headed in the future.”

 Did you enjoy this article? Click here to subscribe to Beverage Industry.  

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

International Pineapple Day at Bahama Breeze

In celebration of International Pineapple Day on April 2, Bahama Breeze locations across the country invited the media and consumers to celebrate with cocktails that feature the tropical flavor of the pineapple. (Photos by Liz Parker and Jennifer Haderspeck)

10/10/13 2:00 pm EDT

Ditch the weighting agents: A cost effective solution for delivering flavors and actives

Available On Demand Learn how to reduce costs and energy use by enabling high oil load emulsions, eliminating the need for weighting agents like brominated vegetable oil (BVO).

THE MAGAZINE

Beverage Industry Magazine

BI April 2014 cover

2014 April

The April 2014 Beverage Industry includes a cover story on moonshine, as well as articles about CSD brands, whiskey, and more. Check it out today!

Table Of Contents Subscribe

Beverage Insider eNewsletter

Are you an Insider? Subscribe to Beverage Industry’s weekly e-newsletter to receive news headlines, new product information and magazine highlights.   

Spirits Segments

Which spirits segment will perform the best in 2014?
View Results Poll Archive

THE BEVERAGE INDUSTRY STORE

cleaning-in-place-dairy-foo.gif
Cleaning-in-Place: Dairy, Food and Beverage Operations, 3rd Edition

This book addresses the principles of cleaning operations, water supply issues and the science of detergents and disinfectants.

More Products

Webinars

Beverage Industry Webinars are an easy, effective and convenient way to get educated and informed on the latest industry trends and topics. All Webinars are FREE unless indicated. For more information, check out our Events page!

STAY CONNECTED

facebook40 twitter    youtubelinked