IRELAND/ITALY: Irishman Brands silent over Illva Saronno deal rumours
The company is reportedly eyeing expansion
Irish whiskey producer The Irishman Brands has declined to comment on reports that it is in talks to sell a minority stake to Italian drinks firm Illva Saronno to help fund its expansion.
The proposed deal would see the Tia Maria and Disaronno producer become a minority shareholder in the Irish firm, The Sunday Times reported yesterday (8 September). US corporate finance house CW Downer is thought to be advising on the deal, it was reported.
A spokesperson for The Irishman Brands, which sells its namesake whiskey brand to 36 countries globally, declined to comment on the report when contacted by just-drinks today. The company last month unveiled new branding and packaging for its portfolio.
In 2006, it signed a “long-term” supply agreement with Irish Distillers for the Pernod Ricard subsidiary to distill and lay down Irishman stock.
Illva Saronno also declined to comment.
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