Bacardi has ventured deeper into the Irish whiskey category, acquiring majority control of Teeling Whiskey Co.
Six years on from initially buying into family-owned Teeling, Bacardi announced today that a further transaction has been completed. Subsequently, the Bombay Sapphire, Patron and Grey Goose brand owner is taking on distribution responsibilities for the Irish whiskey in six European markets.
Precise details of the total size of Bacardi’s stake were not disclosed, while founders Jack and Stephen Teeling “continue to own part of the business and run day-to-day operations”. Local reports in August claimed the group had appointed three executives to Teeling’s board, “giving Bacardi an effective majority” on the board.
While Bacardi will distribute the portfolio in Austria, Germany, the Netherlands and the UK from 1 January, Sweden and Belgium will be added to the arrangement in February and March, respectively.
“By becoming more integrated into the Bacardi portfolio of iconic brands and their distribution across Europe, we will open up even more opportunities and reach for our brand,” said Jack Teeling.
Having founded the namesake brand in 2012, the two brothers opened Teeling Distillery in Dublin three years later. Their father, John Teeling, sold Cooley Distillery to Beam, prior to the company becoming Beam Suntory, in 2011 for US$95m.
Two months ago, Amber Beverage Group unveiled plans to build what it claims will be one of the largest whiskey distilleries in Ireland for its Walsh Whiskey business.
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