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Amber Beverage buys majority stake in Mountain Spirits
Luxembourg-based Amber Beverage Group has acquired a controlling stake in Austrian distribution and wholesale company Mountain Spirits.
Riga Black Balsam is part of Amber Beverage Group’s portfolio
Mountain Spirits was founded in 2004, and following the investment, Amber Beverage Group (ABG) will add its products to the firm’s portfolio, including Riga Black Balsam, Tambovskaya Vodka, Rooster Rojo Tequila and Cross Keys Gin.
Financial details of the transaction have not been revealed.
Seymour Ferreira, CEO of Amber Beverage Group, said: “Mountain Spirits, a boutique and highly respected Austrian distribution company and wholesaler, will provide us with a powerful footprint in Central Europe and with the ability to reach into the strategically important Alps.
“Markus Panzl will stay on in his role as managing director [of Mountain Spirits] and we wish him every success in the future.”
Mountain Spirits is situated in Kufstein/Tirol, “the centre of the Alps”. The firm supplies leading spirits brands to both the on- and off-trade.
Panzl commented: “Joining ABG represents a very promising venture which will strengthen our portfolio and footprint in Austria and Europe overall.
‘The value of ABG rests with its dynamic team, their extraordinary expertise and their strong network across the world. We are happy to take now a part and participate in this extraordinary journey.”
Earlier this month, Amber Beverage Group signed a new distribution deal in Denmark, following a new agreement in France in November.