UK: Blavod Wines & Spirits to split with Cockspur
Blavod Wines & Spirits parts ways with Cockspur rum
Blavod Wines & Spirits is set to part ways with Cockspur rum in the UK, less than a month after it emerged that the two parties were in a dispute over their distribution contract.
Blavod said today (23 September) that it has agreed to cease distributing Cockspur in the UK. In a joint statement, Blavod and Cockspur said that they have reached a mutual decision to end their partnership.
The news comes less than a month after Blavod announced that Cockspur, which is owned by West Indies Rum Distillery (WIRD), had threatened to invoke an early release clause in the distribution contract.
"The previously communicated alleged breach of contract has been withdrawn and a final agreement has been reached which includes a financial settlement to Blavod," said the joint statement today.
Neither party specified how much Blavod would be paid, but Blavod added: "This payment will assist in mitigating the foregone contribution from Cockspur rum over the remainder of the financial year." Blavod's financial years runs until the end of March 2011.
Blavod said that it would continue to distribute Cockspur for a "short transitional period". Cockspur said that it would "shortly" make an announcement on its future plans in the UK.
"We would like to thank Blavod for their efforts with Cockspur over the last four years and their part in the success leading to the significant growth of the brand within the UK market over that period," said John Taylor, chairman of West Indies Rum Distillery. "Cockspur rum is now ready to embark on the next stage of its development within the UK.”
Blavod said that it remains committed to the rum category. "Blavod will announce future plans regarding participation in the rum category in due course," the firm said.
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