US: Stock Spirits offloads Gran Gala to Sazerac Co
Stock Spirits has sold Gran Gala to Sazerac in order to concentrate on its Central and Eastern European heartland
Stock Spirits has lined up the divestment of its Gran Gala liqueur brand to Sazerac Co.
The deal, confirmed earlier today (16 October), will see Sazerac, which handles the importation of Gran Gala in the US, add the Italian triple orange liqueur to its growing spirits portfolio. The New Orleans-based firm completed two purchases from White Rock Distilleries in the country, one a year ago and the other in May of this year.
Financial details behind today's acquisition were not disclosed.
“We are delighted that Sazerac will continue to develop the brand in the US market,” said Stock's CEO, Chris Heath.
“There are significant opportunities for the Stock Group to invest the proceeds in growing and developing our extensive brand portfolio, both organically and through acquisitions, in our core markets of Central and Eastern Europe as well as international markets worldwide.”
Around 98% of Gran Gala's sales occur in the US, Stock said.
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