UK: Blavod secures intellectual property rights with Shetland Spirits
Blavod Extreme Spirits has secured the intellectual property rights for the Blackwood's gin and vodka brands.
The company, which sold its US business to then-CEO Jeff Hopmayer last year, said yesterday (28 May) that it has signed a full licence agreement for the use of the intellectual property rights for the two brands, which were owned by Shetland Spirits Ltd., and is in advanced talks to sign a licence deal for Shetland's Jago's vodka cream liqueur.
The agreement amounts to GBP300,000 (US$)593,134) payable to Shetland immediately, and a further GBP300,000 phased over the next 12 months. From the third year after the deal until the end of the seventh year, a profit share is payable to Shetland amounting to 35% of the pretax profit attributable to the Blackwood's IPR.
At the end of the seventh year Blavod will have the option to acquire the IPR for GBP1.
No-one was available for further clarification at Blavod when contacted by just-drinks today.
Last month, Blavod announced that it had sealed an "exclusive, short-term" agreement to handle the distribution of the three brands in the UK.
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