ABG acquired a minority stake in Cellar Trends last year

ABG acquired a minority stake in Cellar Trends last year

SPI Group has increased its stake in UK alcohol distributor Cellar Trends to 70% through Baltic subsidiary Amber Beverage Group (ABG).

ABG said the Marriott and Watts families would continue to hold the remaining shares in the business, with no changes planned to the company's current management.

The move comes just over a year after ABG acquired a minority stake in Cellar Trends. Financial details were not disclosed.

ABG CEO Seymour Ferreira said he was looking forward to working more closely with the Cellar Trends team, while Cellar Trends joint CEOs Martin Watts and David Marriott called the deal a "welcome evolution" of the companies' relationship.

Cellar Trends distributes wines, spirits and associated products in the UK, with a roster of more than 60 international brands. ABG, the largest alcohol producer and distributor in the Baltics, was set up by SPI in 2014 and owns brands including Riga Black Balsam.

This week, Tallinn-based Liviko announced it would replace ABG as Remy Cointreau's distributor in Latvia.

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