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International Beverage acquires NZ’s Cardrona Distillery
Hot on the heels of agreeing to acquire Larsen Cognac, International Beverage has bought New Zealand spirits producer Cardrona Distillery.
International Beverage, part of Thai Beverage Public Company Limited, has added Cardrona Distillery to its rapidly growing portfolio.
The distillery, based near the town of Wanaka in the Crown Range Mountains of New Zealand’s South Island, produces ‘super-premium’ spirits including Cardrona single malt whisky, The Reid Vodka, The Source Gin and a range of Rose Rabbit liqueurs.
According to International Beverage, the deal will give the company “a foothold in the dynamic New World spirits category”.
Cardrona’s portfolio will join International Beverage’s existing Scotch whisky and spirits brands, which include Old Pulteney, Speyburn and Caorunn Gin.
Desiree Reid, who founded Cardrona Distillery in 2015, and will stay on as managing director following the acquisition stated the following:
“This is an exciting day for all of us at Cardrona Distillery. Building Cardrona has been a remarkable journey, made possible through the work and support of many, many people. I’m thrilled that International Beverage shares our belief in Cardrona’s quality and potential as we embark upon the next chapter of our story together.”
International Beverage plans to invest in the distillery site and “maximise the potential” of Cardrona’s brands in its core markets of New Zealand, the UK and the US.
“We are delighted to have their skilled team and exceptional craft spirits join our business,” said Malcolm Leask, managing director (UK), International Beverage.
“The team has done an excellent job in building Cardrona’s super-premium brands to date with so much integrity, quality and potential for the future. We are
very much looking forward to working with them to build on their success within our international network, as we strengthen our premium spirits portfolio for the global market’.
In the first week of September, International Beverage agreed to acquire Larsen Cognac for €54.1 million, with the purchase expected to close by the end of September 2023.