Neptune Rum sells 50% stakeBy Nicola Carruthers
Spirits producer Babco UK has purchased a 50% stake in Neptune Rum in a bid to establish the brand globally.
Launched in 2017, Neptune Rum is made with pot and column still rums, and aged in American Bourbon oak casks. The brand has grown by 384% to date, the company said.
James Strickland, CEO of Neptune Rum, said: “We are excited by Babco UK’s investment in Neptune Rum. We are so passionate about quality, sustainability and supporting ocean clean-up initiatives, which is something Babco shares.
“This investment provides us with a fantastic opportunity to tell our story, share our exceptional rums and expand our ocean clean-up programmes on a much larger scale. We are thrilled to enter this new chapter with Babco by our side.”
Neptune expanded its portfolio in 2020 with Caribbean Spiced rum, with plans to release five additional products in 2021.
The deal is said to reflect Babco’s aim of expanding into brand ownership, which would complement its other services. Founded in 1999 by Chris Bowen, Babco creates, manages and distributes brands for leading drinks firms. The Sheffield-headquartered company’s portfolio of spirits includes Tofka Vodka and Míl Gin.
Bowen, managing director of Babco UK, said: “We are delighted to announce this investment in Neptune Rum, which shows our commitment and passion for the rum category in the UK. This acquisition is part of our plan to move further into brand ownership and support premiumisation.
“We were initially attracted by the strength of Neptune Rum’s brand identity and values which are backed by exceptional quality and natural ingredients. We are confident that with our expertise in building and growing drinks brands, we will continue to drive growth and set them up as a global brand.”