Lucas Bols buys Tequila Partida for $10m
Dutch firm Lucas Bols has entered the agave spirits market with the acquisition of ultra-premium Tequila Partida in a US$10 million deal.
Lucas Bols announced its intention to buy the Tequila brand from Shansby Trust and Edrington USA in December 2021, and revealed the completion of the acquisition last week (4 February).
The Bols Liqueurs maker purchased Tequila Partida in a two-part agreement, paying a fixed price of US$10 million plus a smaller variable component to be paid out over the next two years.
“We are delighted to welcome the Tequila Partida brand to our portfolio,” Huub van Doorne, CEO of Lucas Bols, commented at the time of the initial acquisition announcement in December last year. “We look forward to the opportunity to further build this fantastic brand.”
Tequila Partida was founded by Gary Shansby in 2005. The range features Blanco, Reposado, Añejo, Elegante and Añejo Cristalino bottlings, plus the Sherry-finished Roble Fino line. In 2016, the brand formed a partnership with Edrington USA and became part of the spirits giant’s portfolio.
Prior to Covid-19, sales of Tequila Partida by distributors amounted to around 15,000 nine-litre cases, translating to revenue of US$3.5m.
“Complementing our portfolio with the ultra-premium Tequila Partida brand provides Lucas Bols with the opportunity to tap into one of the hottest segments in spirits,” van Doorne continued. “We see ample opportunities to grow this brand, not only in its home markets the United States and Mexico, but also in select other markets around the world.”
The Dutch company cited the fast-growing demand for Tequila as a driving factor behind the deal. According to the Distilled Spirits Council of the US, Tequila sales in the country soared last year, accounting for one third of total spirits revenue.
“I am delighted with this fantastic opportunity for Tequila Partida to reach its full potential under the stewardship of Lucas Bols,” said Shansby. “The strong US distribution network, especially in the on-trade, Lucas Bols’ excellent brand building capabilities and the synergy with the unique Bols Cocktails brand will greatly contribute to the development of the Partida brand. I look forward to working together with the Lucas Bols team, who combine almost 450 years of heritage with a true entrepreneurial spirit.”