US: Belvédère, V&S complete Florida Distillers transaction
Belvédère has completed its purchase of Florida Distillers Company from V&S Group.
The French spirits company confirmed the closure of the transaction yesterday (25 April). Belvédère has subsequently taken ownership of two distilleries in the US with a total annual production capacity of around 5m nine-litre cases. Price details were not disclosed.
V&S, the producer of Absolut vodka, bought the unit as part of its acquisition of rum group Cruzan International in 2005. Florida Distillers produces bulk and branded spirits and is the leading producer of citrus brandy and citrus spirits in the US. The business, which last year generated turnover of around SEK600m (US$86.4m), also produces cooking wines and vinegar products.
The Swedish company announced the sale in February, saying that Florida Distillers was "non-core" to its business.
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