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Bacardi offloads Chile and Uruguay ops
Bacardi has signed an agreement to transfer its commercial operations in Chile and Uruguay to Argentinian drinks firm Grupo Cepas.
The deal will see Grupo Cepa handle Bacardi’s commercial operations in Chile and Uruguay
The deal, which was signed on 8 September, puts Grupo Cepas in charge of distributing Bacardi global brands in Chile and Uruguay.
Bacardi’s global brands Martini and Eristoff are bottled in the plants listed. In addition, local brands include Duval liqueurs in Chile and Amarga Amaretto and Amarga Cinco Raices in Uruguay.
The Argentinian company will also assume the role of co-packer for Bacardi’s portfolio that will “continue to be produced locally, expanding productivity in the region”.
Cepas Group, through one of its subsidiaries, acquired all the capital stock Bacardi had in its accounts in both countries.
“This agreement is the starting point for our ambitious international expansion plan in Latin America,” said Fernán Martínez, CEO of Grupo Cepas.
The Bermuda-based group acquired “a significant interest” in Grupo Cepas more than 30 years ago.
This agreement “makes it possible to consolidate a competitive regional production platform”, with plants and distribution centres in Argentina, Chile and Uruguay.
The Spirits Business has approached Bacardi for a comment.