Bacardi acquires Banks RumBy Lauren Eads
Bacardi has expanded its portfolio of super-premium rums with the acquisition of Banks for an undisclosed sum.
Banks was founded in 2008 by Arnaud de Trabuc, former CEO of Angostura Group and president of Cognac producer Thomas Hine & Company, out of Geneva in Switzerland.
The brand is inspired by the travels of 18th-century British explorer and botanist Sir Joseph Banks and is made by blending rums from up to seven different origins including Trinidad, Jamaica, Guyana, Barbados, Panama, Guatemala and Java.
de Trabuc’s previous position as former managing director of the Caribbean region for Premier Wines & Spirits gave him the “unique ability to source rums from otherwise competing islands”, according to Bacardi.
Bank’s composition is a closely guarded secret with final blends aged in previously used Bourbon barrels.
It is currently available in the US, Germany, United Kingdom, France, Japan, Portugal, Russia, Switzerland, Denmark and Singapore.
Banks currently sells 6,000 cases annually and has a portfolio which includes Banks 5-Island Rum, Banks 7 Golden Age Blend and various limited editions.
Terms of the transaction were not disclosed.
Earlier this year Bacardi entered the Bourbon market for the first time acquiring Angel’s Share Brands, including its Louisville Distilling Co subsidiary and Angel’s Envy brand.
Just two days later the company confirmed it had acquired a minority stake in independent Scotch whisky producer Compass Box.