The completion of the transaction will see Brown-Forman add Gin Mare and Gin Mare Capri to its portfolio.
Brown-Forman Acquires Gin Mare
Gin Mare is an ultra-premium Spanish gin with a Mediterranean-inspired recipe of botanicals, including Arbequina olives, thyme, rosemary, and basil.
Gin Mare Capri, introduced last year, is made with Italian bergamot and lemons, along with Gin Mare’s four principal botanicals.
Lawson Whiting, president and CEO of Brown-Forman Corporation, said, "Gin Mare and Gin Mare Capri are unique gin brands with impressive sales growth and strong distribution in important European markets. They are excellent complements to Brown-Forman’s super-premium portfolio.
"We believe this exciting acquisition enhances our capacity to deliver meaningful global growth for the long term," he added.
Gin Mare was founded in 2010 by the Giró family of MG Destilerías and Alfonso Morodo and Antonio Pardo of Vantguard.
Currently, it is sold in more than 70 countries and is the largest ultra-premium gin brand in the world according to drinks market analyst IWSR.
"Brown-Forman is the perfect partner to bring Gin Mare to more consumers and bartenders around the world while keeping the brand’s commitment to producing a unique, high quality, Mediterranean gin," said Manu Giró, CEO, and Marc Giró, Master Distiller, MG Destilerías.
"Our motto at Vantguard is to create brands that are alive with soul and aim to put a sparkle in our customers’ eyes. It’s been a thrill to watch consumers embrace our brand, and we are excited about the future for Gin Mare with Brown-Forman’s resources and capabilities behind it," added Antonio Pardo and Alfonso Morodo, Vantguard Co-CEOs.
Gin Mare will continue to be produced at MG Destilerías in Vilanova i la Geltrú, a village located in Catalonia, between the Costa Brava and the Costa Dorada.
The transaction, subject to customary closing conditions, is expected to close within 60 business days.