Jägermeister acquires US importer Sidney Frank
German herbal liqueur producer Mast-Jägermeister has acquired its US importer, the Sidney Frank Importing Company, for an undisclosed sum.
Sidney Frank first started to market Jägermeister in the US in 1974, and has been credited with helping steer the brand to prominence in the market.
“Our companies have been working in a trusted partnership for more than four decades,” said Michael Volke, member of Mast-Jägermeister’s executive board.
“Together we have successfully built Jägermeister to be the top selling liqueur and an iconic brand personality in the US market.
“As we think about the future, acquiring SFIC is a logical next step in our long-term strategy in the US market and creates the framework for the next exciting chapter of the Jägermeister brand.”
Both Mast-Jägermeister and Sidney Frank are privately held companies, and so have not disclosed the terms of the acquisition deal, which is expected to be completed within 30 to 60 days.
“It’s been a true honour and privilege to have been so closely associated with Mast-Jägermeister and the fabulous Jägermeister brand,” said John Frank, vice chairman of Sidney Frank Importing Company.
“We are confident this move will be a win for our employees, our customers, our consumers and their world-renowned spirits brand.”
Jägermeister has recently attempted to battle challenges in its key US market, where aggressive pricing and changing consumer trends led to an overall 5.6% sales decline for the brand in 2014, with a its new 56 Parts. Best as One” campaign.
In 2013, the company established its first foreign distribution subsidiary with the opening of a brand in the UK – Jägermeister’s third largest market after Germany and the US.
It will now handle all of Sidney Frank’s distribution contracts, which include actor George Clooney’s Casamigo’s Tequila brand and Monkey 47 Gin.