Old Pulteney owner International Beverage has put together an “ambitious programme of investment and accelerated growth in Asia”, part of which features the takeover of its joint-venture in the region.
The spirits company, which itself is owned by ThaiBev, has announced today the full takeover of Asiaeuro International Beverage (AIB) for an undisclosed sum. The seven-year-old business, created in partnership with Asia Group Corp, comprises two units that handle sales, marketing and distribution for mainland China and the region’s global travel retail market alongside the Hong Kong and Macau markets, respectively.
The transaction will strengthen International Beverage’s “overall capability to compete in the premium spirits market in China”, according to AIB’s GM, Freddy Oh.
International Beverage’s global sales director, Veronica Amago, added: ‘It is a challenging time for many consumers around the world, and this continues to have an impact on developments within the spirits industry. This context notwithstanding, International Beverage is well positioned to support our global customers and deliver accelerated growth for our … spirits portfolio.
“The acquisition of AIB … gives us a more agile and dynamic business structure, furthered by the expansion of our international footprint with a larger, stronger sales and marketing team across global markets.”
In an interview with Global Drinks Intel late last year, GTR senior sales manager Mathieu Jeannin said that through its parent company, International Beverage has a “good” understanding of the Asia region. “We have the capabilities to provide our partners with what they’re looking for, so it’s very beneficial for us,” he added.
