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News
Kliro acquires Intercontinental Brands
Independent drinks manufacturer Intercontinental Brands (ICB) has been bought by Kliro Capital Partners for an undisclosed sum.
ICB is a leading UK producer and distributor of alcoholic drinks with a portfolio that includes Cactus Jack, Veroni Amaretto, V-Kat, Hawksbill Rum, Rozél Vodka, and Bella Apertini.
London-headquartered Kliro Capital Partners is a family office investment company that is said to have a strong management board with ‘extensive experience’ in a number of sectors, including the drinks industry.
Warren Scott, founder of Kliro Capital Partners, commented: “We are delighted to have completed the acquisition of ICB. It is a good business with a strong leadership team and we believe that there is significant potential for growth both in the UK and beyond.
“We are committed to working closely with the ICB team to maximise the company’s potential through driving the pursuit of excellence in the drinks industry. This is the first step in our strategy to create a leading group supplying a diverse range of drinks products to UK retailers and third-party brand owners.”
Scott, the former CEO and co-founder of Quintessential Brands Group, indicated the Kliro team had been looking to invest in an ‘appropriate’ UK sprits business to support, develop and grow both organically and through further acquisition.
Scott continued: “We believe that ICB is a tremendous platform to embark upon this new venture. The company has a strong track record, a talented team, and a portfolio of brands that we believe has significant potential for growth.
“We are excited to be working with the ICB team to build on the company’s success and create a leading spirits group.”
New appointment
In addition to the acquisition, Kliro Capital Partners also announced Simon Witham will join ICB as interim managing director.
Witham brings more than 35 years of experience in high-level management and leadership roles across various industries to the position.
He most recently formed part of the senior executive team at Quintessential Brands Group.
Witham commented: “I am excited to be joining ICB at this important milestone in the company’s history. I believe that there is significant potential for growth, and I look forward to working with the team to build on the company’s success.”