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Kliro Capital Partners acquires ICB
Kliro Capital Partners has acquired independent spirits manufacturer ICB (Intercontinental Brands) for an undisclosed sum.
Kliro Capital Partners, an investment company with more than 100 years’ experience in the drinks industry, has acquired 100% of the share capital of independent drinks manufacturer ICB.
In doing so, it takes spirits brands including Cactus Jack, Veroni Amaretto, V-Kat, Hawksbill Rum, Rozél Vodka, and Bella Apertini under its wing.
ICB produces more than 2.5 million cases of spirits across nearly 400 SKUs each year and Kliro has revealed that the acquisition marks a first strategic step in creating “a leading group” which will supply UK retailers and third party brand owners.
“We are delighted to have completed the acquisition of ICB. It is a good business with a strong leadership team and we believe that there is significant potential for growth both in the UK and beyond,” said Warren Scott, founder of Kliro Capital Partners.
“We are committed to working closely with the ICB team to maximise the company’s potential through driving the pursuit of excellence in the drinks industry. This is the first step in our strategy to create a leading group supplying a diverse range of drinks products to UK retailers and third party brand owners.”
With Scott having divested his interest as CEO and co-founder of Quintessential Brands Group in July 2022, Kliro has been looking to invest in a UK spirits business to support, develop and grow “both organically and through further acquisition”.
Under Scott’s leadership, Quintessential Brands Group acquired Greenall’s gin, adding it to a portfolio of spirits including Ophir gin, Bloom gin, and The Dubliner Irish whiskey, and selling its products to more than 120 countries worldwide.
“We believe that ICB is a tremendous platform to embark upon this new venture. The company has a strong track record, a talented team, and a portfolio of brands that we believe has significant potential for growth. We are excited to be working with the ICB team to build on the company’s success and create a leading spirits group.”