The purchase which includes the parent company Angel Share Brands and its subsidiary, Louisville Distilling Co, will allow Bacardi to expand its portfolio into the American whisky category for the first time.
|Bacardi acquires Angel Share Brands for an undisclosed sum|
Angels Envy will continue to run as a standalone operation, and its business structure, employee base, production, distribution, commercial and marketing activities will remain unchanged.
Commenting on the news, Mike Dolan, Bacardi CEO, said: “We have a clear strategy aligned to meet consumer needs in premium spirits and are building an even stronger portfolio through innovation and acquisition. The purchase of Angel’s Share Brands and the Angels Envy portfolio further reinforces our commitment to growing the super-premium spirits sector.”
Angels Envy Port Finished Bourbon, the flagship brand, is one of the top ten fastest growing super-premium bourbons in the United States. The American straight category as a whole has experienced a resurgence in the past five years with a nearly five percent growth rate while the super-premium American straight segment has grown nearly 10 percent during the same time.
Angels Envy was created by the late Master Distiller Lincoln Henderson, one of the original pioneers of the premium bourbon and whiskey categories in the US and an inaugural member of the Bourbon Hall of Fame. The bourbon is hand blended in small batches of 8 to12 barrels and is allowed to develop naturally, creating nuances in the bourbon from year-to-year.
Source: Bacardi Ltd