NEW ZEALAND. Bacardi Ltd has announced plans to purchase the New Zealand spirits company 42 Below.
Bacardi’s all cash offer values the company at approximately US$91m. 42 Below is a publicly traded New Zealand company, best known for its 42 Below vodkas.
“Bacardi is acquiring young premium brands in 42 Below. With substantial investment by our company, 42 Below brands show long term potential in the global spirits industry with a particular focus on the growing Asia Pacific markets,” said Andreas Gembler, President and CEO of Bacardi Ltd.
42 Below vodka was launched in 1998 in the premium vodka segment and has shown strong volume growth in the last few years. The brand is currently distributed in more than 25 countries.
As well as the main vodka brand, Bacardi expects to acquire four flavoured vodkas – Manuka Honey, Kiwifruit, Feijoa and Passionfruit – and the newly developed products of South Gin, Stil Vodka, Seven Tiki White Rum, Tahiti Dark Rum and 420 spring water.
“This is a great development. We believe Bacardi, known for its track record in growing acquired brands and substantially investing behind them, is the best company to grow our products in the global spirits market,” said Grant Baker, Executive Chairman of 42 Below.
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