Quintessential Brands Sells 25% Stake To Stock Spirits
Published on Jul 18 2017 8:50 AM in Drinks
Quintessential Brands, which owns the Dublin Liberties and the Dubliner Irish whiskeys, has sold a 25% stake in its distilleries to Eastern European drinks company Stock Spirits Group in an €18 million deal.
The Stock Spirits investment is comprised of an initial €15 million cash, plus a further deferred cash consideration over a five-year period for the 25% equity interest, reports the Irish Times.
The range of products in Quintessential's portfolio currently sell in more than 30 countries with sales in excess of 32,000 cases in the 12 months to March 2017.
Its brands include the Dublin Liberties Irish Whiskey, O'Mara's Country Cream, Dublin Liberties Copper Alley, and Bloom Gin.
Warren Scott, co-owner of Quintessential Brands, said the company had developed "great traction" across these markets. "This investment and partnership with Stock Spirits comes at the beginning of a very exciting next phase in the development for our Irish whiskies,' he said.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Donna Ahern. Click subscribe to sign up to ESM: The European Supermarket Magazine.