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Luxco acquires organic producer Veev Spirits
US spirits producer Luxco has entered into an agreement to acquire Los Angeles-based Veev Spirits for an undisclosed sum.
Luxco is set to acquire organic producer Veev SpiritsLuxco, based in St Louis, is set to purchase Veev Spirits from company founders Courtney and Carter Reum, taking over the group’s portfolio of brands including the 35% abv “vodka alternative” Veev Spirit and certified organic RTD cocktail line VitaFrute Cocktails.
“We believe in Carter and Courtney’s vision and are thrilled to be adding these brands to our portfolio,” said David Bratcher, president and COO of Luxco.
“Veev and VitaFrute’s premium quality, progressive positioning and commitment to sustainability resonate with today’s millennial drinkers. The brands are a perfect fit for our established portfolio of rapidly-growing products.”
Veev Spirits launched in 2007 and was named one of the 500 fastest growing private businesses in America. Its namesake spirit brand is positioned as a “better alternative to vodka” with a focus on “all-natural” ingredients.
Founded in 1958, Luxco is headed by president and CEO Donn Lux and remains under ownership of the lux family.
“This is an incredible day for Veev Spirits,” said Courtney Reum. “We started this company with a vision of creating a better way to drink and changing the way people think about the alcohol industry, and Donn Lux and his team share our values and will help these brands reach their full potential.”
Late last year, Luxco revealed plans to spend more than US$27m on building its first wholly-owned distillery in Kentucky after tax incentives for the project were approved.