Articles Tagged with ''mergers and acquisitions''

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.

E. & J. Gallo Winery, Modesto, Calif., announced that it acquired Bev and its portfolio of premium canned wines and spritzers. The acquisition comes two years after Gallo obtained exclusive U.S. distribution rights for Bev and began to bring the brand to more consumers across the country.

Spirit of Gallo, Modesto, Calif., has announced that it will acquire Fishers Island Lemonade, Mystic, Conn., a female-founded beverage brand. With a 9% ABV, Fishers Island Lemonade is positioned as a leader in the premium RTD category with its full-flavor taste profile of barrel-aged whiskey and premium vodka— its four-pack is offered at $15.99, the company notes. Today, the Fishers Island Lemonade family also includes Fishers Island Half and Half (7% ABV) and Fishers Island Pink Flamingo (7% ABV) line priced with a suggested retail price of $15.99 for a four-pack along with variety eight-pack offerings.

Breakthru Beverage Group, New York, announced that it has signed an agreement to acquire California-based Wine Warehouse, further expanding the company’s footprint to the largest U.S. beverage alcohol market. The transaction is expected to close this spring and is subject to usual and customary closing conditions.

Brown-Forman Corp., Louisville, Ky., announced that it has completed its acquisition of the Diplomático Rum brand and related assets from Destillers United Group S.L. (Spain). The company announced its agreement to purchase the brand in October 2022, giving Brown-Forman an entry into the growing super-premium-plus rum category.

Stamford, Conn.-based American Beverage Corp., a wholly-owned subsidiary of Harvest Hill Beverage Co., announced that it has acquired Poppilu, a lemonade brand for kids that was founded by food industry veteran-turned-momtrepreneur Melanie Kahn.

E. & J. Gallo Winery (Gallo), Modesto, Calif., announced that it has purchased Denner Vineyards, producer of critically acclaimed wines from California’s Central Coast. Located in the Willow Creek District of Paso Robles, the Denner Vineyards Estate, which was completed in 2005, includes a tasting room and a gravity-flow winery designed to fit into the rolling hillside of the surrounding vineyards.