Brown-Forman completes Diplomático deal
Jack Daniel’s owner Brown-Forman has closed its agreement to buy Venezuelan brand Diplomático, marking the firm’s first move into rum.
Brown-Forman, owner of brands such as Woodford Reserve Bourbon and Chambord liqueur, initially agreed to buy the rum from Spain’s Destillers United Group in October last year. Financial terms of the deal were not disclosed.
The transaction also includes an ageing, bottling, and shipping production facility in Panama.
“Brown-Forman’s super-premium portfolio continues growing to meet the preferences of global spirits consumers,” said Lawson Whiting, president and CEO, Brown-Forman.
“Today, we’re pleased to officially welcome more than 100 new employees to Brown-Forman as we close on our acquisition of the Diplomático Rum family of brands, and add the number one super-premium and ultra-premium rum [IWSR 2021 data] to our portfolio.”
Destillers United Group will continue to produce the rum at the original distillery, based at the foot of the Andes mountains.
The brand is available in more than 100 countries, with France, Germany and the US being its biggest markets.
Diplomático Rum consists of three ranges – the Traditional line with its Reserva Exclusiva, and Selección de Familia bottlings; the Prestige range, which includes Single Vintage; and the limited edition Distillery Collection, which showcases the brand’s ‘unique’ distillation methods.
Diplomático was named one of SB‘s rum brands to watch in 2023.
Mediterranean-inspired Gin Mare also recently became part of the Brown-Forman stable following completion of the acquisition in November 2022.