Articles Tagged with ''mergers and acquisitions''

Treasury Wine Estates Ltd., Melbourne, Australia, has reached an agreement to acquire DAOU Vineyards, the acclaimed luxury wine business founded by brothers and co-proprietors Georges and Daniel Daou for an upfront consideration of $900 million, plus an additional earn-out of up to $100 million. 

Miami-based Avalon Spirits Corp., a newly formed distilled spirits marketing and sales company, has announced the acquisition of TSS Brands, the owners of Whiskey Row Bourbon.

Bacardi Limited, Hamilton, Bermuda, announced the completion of a transaction that makes the family-owned company the sole owner of ILEGAL Mezcal, a leading super premium artisanal mezcal. ILEGAL Mezcal is available in Joven, a full-bodied agave flavor with a light smoke; Reposado, aged six months in medium-charred American oak; and Añejo, aged to taste for 13 months using a combination of new and used American oak, medium char barrels. 

Leading North American beverage wholesaler Breakthru Beverage Group is taking a consumer-centric approach with its portfolio as premiumization takes greater shape in shopper preferences.

Molson Coors Beverage Co., Chicago, has reached an agreement to acquire Georgetown, Ky.-based Blue Run Spirits, an award-winning producer of finely crafted bourbon and rye whiskies. The deal represents another step in Molson Coors’ evolution as a total beverage company while providing Blue Run with resources to continue its growth. As its first spirits acquisition, the addition of Blue Run boosts the Molson Coors’ footprint in spirits as it continues to evolve from its storied history as a beer company and premiumize its portfolio, the company says.

Ole Smoky Distillery, Gatlinburg, Tenn., announced they have closed upon a merger agreement with Tanteo Spirits LLC, one of the fastest growing ultra-premium tequila companies. This transaction marks the Tennessee-based distillery’s entry into the fast-growing tequila market, as it moves to diversify its portfolio across other high-growth spirits categories.

Brown-Forman Corp., Louisville, Ky., reached an agreement to sell its Finlandia vodka brand to Coca-Cola HBC AG for $220 million, subject to the customary closing process. The purchase is expected to close in the second half of the 2023 calendar year.

Based on 2022 fiscal year sales, this year’s Top 100 Beverage Companies report, compiled by the editors of Beverage Industry, has seen a collection of long-running entities exit the list as they merged or were part of an acquisition.