Cuervo Picks Up Pendleton Whisky


Dear Client:

Cuervo has agreed to acquire Canadian whisky brand Pendleton from Hood River Distillers for $205 million.

The Pendleton acquisition includes the core offering as well as Pendleton Midnight, Pendleton 1910 and Pendleton Director's Reserve. The brand hit the shelves in 2003, and at present represents about 250,000 cases, according to a release.

Proximo Spirits chief Mark Teasdale says the acquisition was the "next step in developing a world-class portfolio of whiskies." Pendleton will join Bushmills, Stranahan's and Tincup in the Cuervo portfolio.

Hood River will continue to bottle the Pendleton portfolio for Proximo and will also continue to operate with its remaining brands.

The transaction is scheduled to close in the first quarter of 2018.

Until tomorrow,
Your Editors

Emily Pennington -
Sarah Barrett -

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