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ABG buys remaining stake in Australian distributor
Luxembourg-based Amber Beverage Group has taken full ownership of Australian distributor Think Spirits for an undisclosed sum.
Amber Beverage Group has taken full ownership of Think Spirits
Amber Beverage Group first acquired a 90% share in Think Spirits in 2018. Amber Beverage Group (ABG) has now taken full ownership of the company as part of its plans to become a multinational drinks firm.
Patrick Borg, founder of Think Spirits, will remain in the business along with the rest of his team. No operational changes are expected.
Seymour Ferreira, CEO of Amber Beverage Group, said: “This acquisition is important strategically for ABG as part of our ambition to become a truly global beverage company.
“The team at Think Spirits has done an excellent job steering the business through recent challenging times in the region.
“With China and parts of Asia opening up, we see great potential for our business and Australia is an indicator of what will happen in the rest of the world with retail reopening, wholesalers and on-premise coming back to business and Think Spirits is well positioned to help us expand into these exciting markets.”
Borg added: “Having established the business in 2004, we have built it up to become one of the leading players in the Australian drinks trade and being 100% owned by ABG will give us the opportunity to expand even further.
“Even with the challenging conditions over the last few months, our business is doing extremely well and our figures are way ahead of last year, which is great for all of us.”
Last year, Amber Beverage Group acquired 100% of UK distributor Cellar Trends.