Bacardi has bought out the founders of Teeling Whiskey Co, marking the second time that the namesake family has sold an Irish whiskey to a multinational brand owner.
Fifteen years on from working with their father to sell Cooley Distillery to Suntory Global Spirits – then called Beam Inc – for around US$95m, brothers Jack and Stephen Teeling have stepped back at the namesake company they set up in 2012. Bacardi, which bought a minority holding in the owner of the Teeling whiskey mark nine years ago before taking majority control in 2022, has paid an undisclosed sum for full ownership.
The brothers, whose father John set up Cooley in 1987, “will remain a part of the brand, shaping its future and driving growth for the long term as strategic advisors”, according to the new owner.
“Teeling is the perfect fit for Bacardi,” said group CEO Mahesh Madhavan. “The brand stands for quality, craftsmanship and a fearless approach to the category with fresh ideas and innovative new whiskeys.
“There is so much long-term potential for the Irish whiskey category globally and with Teeling we are perfectly positioned to take advantage of every opportunity.”
As well as the brand, which focuses on a small-batch production process, the company also runs a distillery in Dublin, the first new whiskey production facility in the city for 125 years.
Elsewhere in the category recently, Brown-Forman put production at Slane Distillery on a “temporary … pause” earlier this month. The break would not interrupt supply in the market, a spokesperson said at the time, thanks to what they called “a robust supply of maturing whiskey”.
