Amber Beverage Group ups Cellar Trends ownershipBy Nicola Carruthers
Amber Beverage Group has increased its stake in UK drinks distributor Cellar Trends to 70%.
Luxembourg-based Amber Beverage first acquired a stake in Cellar Trends in May last year. At the time, Amber Beverage Group said the transaction was an “exciting opportunity” to expand its international footprint and “learn more” about the UK market.
The Marriot and Watts families will continue to hold the remaining shares in Cellar Trends and there will be no changes to management.
Amber Beverage said it was looking forward to working “more closely with the team and to the next phase in the company’s history”.
The value of this latest deal has not been disclosed.
Joint CEOs Martin Watts and David Marriot said: “This is a welcome evolution of Cellar Trends’ relationship with Amber Beverage Group.
“It provides a stable base for the continuation, with confidence, of our successful brand building work on behalf of all the brand owners whom we are proud to represent.”
Amber Beverage produces a portfolio of over 130 brands including Riga Black Balsam, Moskovskaya Vodka and Rooster Rojo Tequila.
Last month, the group completed its acquisition of a majority stake in Australian distributor Think Spirits for an undisclosed sum.