US/GERMANY: Beam Global Spirits & Wine offloads spirits brands to Henkell & Co
Beam Global will sell three brands to Henkell & Co
Beam Global Spirits & Wine has lined up the divestment of three German drinks brands to Henkell & Co in the country.
The US-based firm announced earlier today (27 July) that it will sell Kuemmerling bitters, Fuerst Bismarck korn/schnapps and Jacobi 1880 brandy to Henkell, which is the second largest distributor of wine and spirits in Germany.
Henkell will also take control of Beam's facility in Bodenheim, where the brands are produced.
Financial details behind the tranaction were not disclosed.
“Selling these brands will enable Beam Global to devote all of our resources in Germany toward the growth of our global premium brands, led by Jim Beam, Maker’s Mark Bourbon and Sauza Tequila,” said company MD Torsten Helbig. “It is our utmost priority to ensure a smooth, seamless transition for our employees and our operations to Henkell.”
Hans-Henning Wiegmann at Henkell added: “Kuemmerling, F?rst Bismarck and Jacobi 1880 are a great strategic fit for us. Henkell is prepared to invest in their growth as Beam Global focuses on growth of its global premium brands in Germany.”
The transaction is expected to complete by 1 September.
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