Lucas Bols takes ownership of Nuvo sparkling liqueur

Lucas Bols has exercised its option to acquire full control of vodka-based sparkling liqueur Nuvo. The Netherlands-based company initially lined up a distribution arrangement with the brand's owner, London Group, in late 2017. The deal, which included 'put and call' clauses, was described by Lucas Bols at the time as fitting its "asset light business model". This week's purchase, for the sum of US$5.7m, came about after US-Based London Group exercised the 'put' option earlier this month. "The acquisition of the Nuvo brand fits well in the growing aperitif moment of consumption and wit