New York-based Panache Beverages Inc., which produces Wódka vodka and Alibi American Whiskey, has signed an asset purchase agreement to acquire the Empire Winery and Distillery in Hudson, Fla.
The expected acquisition of the facility, which is anticipated to re-open as Panache Distillery before the end of 2013, includes the rights, titles and interest to all assets including the buildings, machinery, inventory and equipment. The Panache Distillery will offer full integration of domestic distillation, bottling and sales operations, the company says.
James Dale, chief executive officer of Panache Beverages, explains: “Moving to manufacturing is a critical step for both Panache and its brands. The distillery will provide us with means to manage the supply of our own brands while also providing the parent company with new and diverse revenue streams.”
Production of its Wódka and Alibi American Whiskey brands will transition to the Panache Distillery. The move helps facilitate control of the supply chain and increases margin and cost control, according to the company.
The distillery acquisition also will diversify the Panache business, adding bulk spirits production and turnkey third-party contract distillation and co-packing as ancillary businesses and additional revenue streams, it says.
Jacob Call, the former senior manager of distillery and bulk sales for a large distillery and spirits bottler in the southeastern United States, has been appointed as the president of sales and operations for the new Panache Distillery.
Report Abusive Comment