Deerfield, Ill.-based Beam Inc. announced a definitive agreement to sell its Wolfschmidt vodka, Calvert, Bellows, Dark Eyes vodka, Canada House Canadian and Tempo Triple Sec brands and related inventory to Luxco, a St. Louis-based producer, importer and marketer of beverage alcohol products, for $65 million. Distributed in North America, the brands generated revenues of approximately $30 million, excluding excise taxes, and volumes of approximately 1.8 million cases in 2012, the company reports.
“Following the premium brand acquisitions we’ve made in the past two years, this move reduces portfolio complexity in economy vodka and Canadian whisky and reinforces Beam’s focus on developing our power brands and rising stars, which are our most profitable growth engines,” said Matt Shattock, president and chief executive officer of Beam Inc., in a statement. Beam segments its brands into power brands, rising stars, local jewels and value creators. The brands being divested to Luxco are among Beam’s value creators.