Bacardi has taken a minority stake in Teeling Irish whiskey, bringing the independent brand into its distribution network in the US. The existing owners and management will stay on, but as of September 1, Teeling will join Bacardi in the Transatlantic Spirits division at Southern Glazer's Wine & Spirits.
"Given the size of the opportunity, when a chance came up to partner with Bacardi through their new national distribution partnership and unique route-to-market model with Southern Glazer's, it was too good not to take," founder Jack Teeling told the Irish Times.
Teeling is one of the leading independent Irish whiskey brands in the US, founded by brothers Jack and Stephen Teeling after their family sold its Cooley Distillery to Beam for $95 million in 2012. Earlier this month, Jack told an Irish publication that the company is working on launching the first Dublin distillery-produced whiskey in decades and continuing to expand its global presence.
This is Bacardi's first move in the hot Irish whiskey category, but it's taken minority or majority share in a great little portfolio of craft/indie brands in last three years. You'll recall, it acquired Banks Rum in July 2015, [see WSD 07-07-2015]; it bought a minority stake in Compass Box Scotch in 2015 [see WSD 03-01-2015]; and it took a minority stake in Ilegal Mezcal in February [see WSD 02-21-2017].
Venezuela's Santa Teresa rums also joined Bacardi's global distribution network, but Bacardi did not get any stake in that deal [see WSD 01-09-2017]
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