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.