Bacardi acquires minority stake in Teeling whiskey
Bacardi has made its first foray into Irish whiskey with the purchase of a minority stake in The Teeling Whiskey Company for an undisclosed sum.
Commenting on the acquisition, the family-owned drinks group said it is a “big believer” in founders Jack and Stephen Teeling and the company’s range of Irish whiskeys.
The Dublin-based firm will continue to lead and run the business and will operate independently and autonomously.
According to a Bacardi spokesperson: “Bacardi has held a long-term belief in supporting innovative founders in emerging and growing businesses that share many of the same family-based values and cultural tenets. Bacardi also has a well-known track record of maintaining the unique heritage of a brands origin.
“It’s business as usual at Teeling Whiskey Co as this minority shareholding does not alter the day-to-day management or operation of the business.”
Teeling Whiskey will be distributed in the US through Southern Glazer’s Wine & Spirits from 1 September as a result of the deal. Southern Glazer’s handles the Bacardi portfolio of brands in the US through its Transatlantic Spirits division.
“Joining forces with a partner of this calibre in the largest market for Irish whiskey is an important strategic development for us and is testament to what Teeling Whiskey has achieved over the past five years,” said Jack Teeling, founder and managing director of the Teeling Whiskey Company.
“We look forward to working with our new partners to drive the evolution and segmentation of the Irish whiskey category in the US.”