Rum brand Bacardi has signalled its intention to expand into the North American bourbon category with the acquisition of US-based Angel’s Share Brands.
The acquisition, with sum undisclosed, includes the Kentucky bourbon maker’s flagship Envy brand and subsidiary Louisville Distilling Co. Angel’s Envy “is one of the top ten fastest growing super-premium bourbons in the United States,” Bacardi said. The Bermuda-based producer will be seeking to exploit growth in the US super-premium straight segment, which it claimed had grown at a rate of nearly 10% over the last five years.
Angel’s Envy will continue as a standalone option, retaining its existing business structure and employee base.
Bacardi CEO Mike Dolan said: “We have a clear strategy aligned to meet consumer needs in premium spirits and are building an even stronger portfolio through innovation and acquisition. The purchase of Angel’s Share Brands and the Angel’s Envy portfolio further reinforces our commitment to growing the super-premium spirits sector.”
Bacardi vice-chairman Barry Kabalkin added: “Bacardi has a long history of successful acquisitions of cutting-edge brands. Bacardi looks for the gems of innovation in the spirits world to complement our premium and super-premium brands, and Angel’s Envy is a natural fit for our portfolio. We are thrilled to add Angel’s Envy, one of the most exciting brands in the North American whiskey category today, to our highly focused portfolio of iconic brands.”
Facundo L. Bacardi, the company’s current chairman and fifth generation Bacardi family member, also claimed that the two businesses shared a mutual heritage and cause. He also highlighted the importance of retaining Angel’s Envy’s executive setup: “Angel’s Envy, like Bacardi, was founded as a family-owned business driven by an entrepreneurial spirit. The secrets to crafting Angel’s Envy have been well preserved by three generations of the Henderson family. Bacardi is well recognised for showcasing the unique heritage and origin of our brands, so I’m thrilled that the Henderson family, under the stewardship of global brand ambassador Wes Henderson, will continue to be directly involved with the Angel’s Envy brand.”
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