Spanish beer major Hijos de Rivera has acquired local gin and vodka distiller Vánagandr.
Financial terms were not disclosed. Galicia-based Vánagandr, set up in 2014, sells its products in ten countries. Spain is the principal market for the business but it exports to countries including Portugal, France, Germany and the US.
Hijos de Rivera is best known for beer brand Estrella Galicia, which is sold in more than 50 countries. The company also owns brands including Maeloc cider and Fontarel bottled water.
However, the Hijos de Rivera portfolio includes spirits such as its liqueurs brand Licor de Galicia and F de Formentera gin.
In a statement, Francisco Ucha, Hijos de Rivera's CEO, said: "It’s a great opportunity to incorporate into our portfolio a selection of exceptional, prestigious spirits, with which we share values inherent to our identity, such as the artisanal philosophy of production and the excellent quality of our products."
According to projections from GlobalData, Just Drinks' parent, gin and genever sales in Spain are forecast to reach $3.56bn in 2025. It estimates the market will climb to $3.79bn in 2029, representing a CAGR of 1.6%.
Vánagandr master distiller Enrique Peña is joining Corporación Hijos de Rivera in the same role.
Peña said the move "marks the beginning of a new professional stage in a company with which I share the firm conviction for excellence in each product".
Just Drinks has approached Hijos de Rivera for further comment.
In May, the company added to its presence in spirits with a deal to distribute for Spanish business Destiny Spirits.
Hijos de Rivera will distribute Destiny Spirits brands Ricetta Real Food Cocktails, Lilou Salted Gin and Tequila Brix in Spain and Portugal.
In April, the group bought a majority stake in domestic craft beer producer Basqueland Brewing.
Founded in 2015, Basqueland Brewing is based in San Sebastian in the Basque region.
