Gallo has made another move in spirits, investing in Mexican gin business Condesa.
As part of the deal, Gallo will become the brand’s US importer. Financial terms were not disclosed.
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Based in Mexico City, Condesa gin is distilled by Hillhamn Salome, the founder and distiller at Flor de Luna, a women-run distillery in the Mexican capital.
The transaction was conducted by Gallo’s spirits arm, Spirit of Gallo. The division houses the US group’s interests in spirits, including Tequila, whiskey, vodka and RTDs.
Spirit of Gallo’s range also includes gin brand Stratusphere. The deal with Condesa marks the company’s move into “super-premium gin”, it said.
“Condesa gin fits perfectly in our portfolio as our first super-premium gin offering,” Britt West, Spirit of Gallo’s general manager, said. “The gin category is evolving, as consumers trade up to premium brands from interesting places with compelling stories.”
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By GlobalDataAccording to Gallo, Condesa gin’s “largest market” is Mexico. In the two years since the gin was launched, it has a 5% market share of super-premium gin sales in Mexico City “and is outgrowing incumbent brands”, a Spirit of Gallo spokesperson told Just Drinks.
Jordi Nieto, a co-founder of Condesa, added: “We are honoured to partner with Spirit of Gallo. This partnership allows us to expand our community and distribution in the US, while advancing us on our journey to become a leader in the luxury gin space.”
The terms of the deal, including the shareholder structure after Gallo’s investment, were not disclosed. Gallo declined to comment further.
Gallo set up Spirit of Gallo in 2022 as a dedicated umbrella business unit for its spirits operations. Its investments through Spirit of Gallo have also included Horse Soldier Bourbon, a deal that marked its entry into US whiskey.
In February, the company set out plans to invest in its spirits production. Gallo, which owns the New Amsterdam vodka brand, said it would invest in a facility in South Carolina.
