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Becle, the owner of the tequila brand Jose Cuervo, has announced that it is to acquire whisky brand Pendleton Whisky from spirits firm Hood River Distillers in a deal worth $205 million.
Launched in 2003, Pendleton Whisky is described as one of the leading super-premium whisky brands in the USA and has an annual sales volume equal to more than 250,000 nine litre case equivalents. In addition to the flagship Pendleton Whisky, the firm offers brands such as Pendleton Midnight, Pendleton 1910 and Pendleton Directors’ Reserve.
Commenting on the deal, Mark Teasdale, president & chief executive officer of Proximo Spirits, the US operating subsidiary of Becle, said: “We are excited to announce this transaction today. The Pendleton Whisky brand will fill an important strategic position in our portfolio, as we add a fast-growing, super premium whisky to complement our broad selection of international spirits. Following the successful acquisitions of Bushmills Irish Whiskey and Stranahan’s Rocky Mountain Single Malt Whiskey, and the rapid growth of Tincup American Whiskey, we view Pendleton as the next step in developing our world-class portfolio of whiskies. We expect to build on the remarkable success of Pendleton using our resources as a full-service, global spirits company”.
Post-acquisition, Hood River Distillers will continue to bottle the Pendleton portfolio of products for Proximo Spirits and will also continue to operate with its remaining brands.
The transaction is expected to close during the first quarter of 2018, subject to regulatory approval and other customary closing conditions.
Source: Becle (via BusinessWire)
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