The brands included in the transaction are Wolfschmidt vodka, Calvert (Lord Calvert Canadian, Calvert Extra, and gin), Bellows (blended whiskey, Bourbon, gin, rum, Scotch and vodka), Dark Eyes vodka, Canada House Canadian, and Tempo Triple Sec.
The brands, distributed in North America, generated 2012 revenues of approximately $30m (excluding excise taxes) and volumes of approximately 1.8 million cases. The purchase price is approximately $65m.
Donn Lux, chairman & CEO of Luxco, said: “We are thrilled to be adding these brands to our portfolio. Beam has done a great job in establishing them across many markets and categories. We look forward to expanding them further and bolstering our entire portfolio with our distributors.”
The transaction is subject to customary closing conditions and is expected to be completed by the end of January. As part of the transaction, Beam will continue to produce and bottle the brands through at least January 2014. Beam expects the transaction to be neutral to EPS in 2013.
Source: Beam
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