Brown-Forman has entered into an agreement to buy the Diplomático Rum brand and related assets from Destillers United Group.
The transaction will see the Venezuelan rum range join Brown-Forman’s extensive portfolio of brands. The deal also includes a production facility located in Panama.
According to Brown-Forman, Destillers United Group will continue to produce and age Diplomático Rum at the brand’s original distillery at the foot of the Andes Mountains. The rum is sold in over 100 countries, including France, Germany and the US.
Lawson Whiting, president and CEO of Brown-Forman, said: “Diplomático Rum will join our expanding portfolio, giving Brown-Forman a market-leading entry into the fast-growing super-premium rum category. This aged rum brand has distinctive packaging, strong brand positioning and is a delicious-tasting spirit. As part of this acquisition, we will welcome more than 100 new employees to Brown-Forman.”
Current owner Destillers United Group added: “Diplomático Rum is ready to accelerate its growth with Brown-Forman, one of the world’s most well-known spirits and wine companies. We share a similar familial culture and know the brand will continue building on our legacy. We look forward to working together to bring Diplomático Rum to consumers around the world.”
The transaction is expected to close within 90 days, subject to customary closing conditions.
Terms of the deal were not disclosed.
© FoodBev Media Ltd 2024
