Nolet, the leading Dutch distiller, has announced an agreement to buy its fellow spirits firm Lucas Bols in a deal worth approximately €269.5 million ($286.2 million).
In a statement, the two companies said the deal would create “a Dutch champion in the global spirits and cocktail market”, adding they see “a unique opportunity to bring two leading […] companies with a rich heritage under one Dutch flag”.
Lucas Bols will continue to be based in Amsterdam and to operate with its current name, leadership, route-to-market and other partnerships, the companies said.
Commenting on the move, Nolet Group chair Carel Nolet said: “Nolet and Lucas Bols complement each other well in terms of markets, brands, innovation and marketing. For us, the combination with Lucas Bols is a valuable expansion with a strong portfolio of well-known brands”.