Heaven Hill Brands has agreed the divestment of “the first liqueur to be produced in Ireland”, Irish Mist, less than a decade after having acquired the brand.
The transaction, which was announced last weekend, sees Irish Mist head to recently-founded The Old Canal Quay Spirits Co for an undisclosed sum. Back in July 2017, Heaven Hill bought the brand along with Irish cream liqueur counterpart Carolans from Campari Group for US$165m.
At the time, the American whiskey specialist described the two brands as being “highly complementary to our broad portfolio of leading brands”.
Earlier this week, Heaven Hill’s co-president, Allan Latts, said: “As we invest behind our premium portfolio, this decision reflects the disciplined thinking that guides how we approach every brand in our line-up.
“Irish Mist is an iconic Irish liqueur, and the right move is placing it in the hands of an owner with Irish roots and the focus to grow it the way it deserves.”
Dublin-based Old Canal Quay Spirits commenced operations in April 2024 and features ex-Diageo & -Proximo Spirits executive David Phelan and The Shed Distillery founder Patrick Rigney among its leading lights.
“We are honoured and excited to now play a role in reinvigorating this iconic Irish brand for today’s consumer,” added Phelan.
Just over a year ago, Kentucky-headquartered Heaven Hill officially opened the Heaven Hill Springs Distillery in Bardstown, its second production facility in the state.
