Cooley Distillery has been sold to a US drinks firm in a deal worth about €71 million. The deal is conditional on a majority of shareholders taking up the cash offer.
Beam owns brands such as Canadian Club whiskey, Courvoisier and Teacher’s. The company plans to capitalise on the global interest on Irish whiskey. Cooley products include Connemara, Kilbeggan, Tyrconnell and Greenore brands. Beam would help Cooley to reach its potential, said Cooley Distillery chairman John Teeling. The Irish-based distillery sells around 250,000 nine-litre cases of whiskey each year.
The volumes of Irish whiskey sold last year grew by 11.5pc with key markets being in Ireland, UK, France and the US. (19 Dec)
© 2011 ESM: European Supermarket Magazine
© 2011 ESM: European Supermarket Magazine
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