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Interbev President Barrie Jackson (left) and Inver House Managing Director Graham Stevenson celebrate yesterday’s news |
INTERNATIONAL. Inver House Distillers and Best Spirits Company have become wholly-owned subsidiaries of International Beverage Holdings Ltd (InterBev), the international arm of southeast Asia’s largest alcoholic beverage company, Thai Beverages Plc (ThaiBev).
InterBev acquired Pacific Spirits UK – owner of Scotch whisky distiller Inver House – and Best Spirits, the company’s Hong Kong distributor, in a deal which valued both acquired companies at S$63.6 million and created a group with total estimated assets of HK$989 million. The deal had been expected following the successful Initial Public Offering of ThaiBev in May.
Said InterBev President Barrie Jackson: “This is an exciting time for InterBev, and we are looking forward to fully integrating Inver House Distillers and Best Spirits into our operations. Our portfolio of brands is growing fast and has a reputation for quality and distinction. Our focus is now on working together to drive the business and its products at home and internationally.”
InterBev’s range of alcohol beverage brands includes Chang Beer, Old Pulteney, Balblair, Knockdhu, Speyburn, Balmenach, Mekhong Rum and Sangsom Rum.
Aside from the UK office of Inver House, which employs 150 staff, InterBev operates out of three other hubs: Hong Kong (headquarters), Singapore and New York. Operations at Inver House’s UK base and at Best Spirit Company’s Hong Kong base will be unchanged.
About International Beverage Holdings
InterBev was established in 2003 to support the export and international business development of ThaiBev, and aims to be the leading Asian international drinks company through the development of key global markets. It has established operations in its home country as well as in Singapore, Cambodia, Malaysia, the UK and North America, exporting brands to over 80 countries. Bangkok-based ThaiBev employs 20,000 people and has a 60% share of the Thai beer market and a 74% share of the Thai spirits market. The company was listed on the Singapore Stock Exchange in May 2006.
About Inver House Distillers
Inver House Distillers was founded in 1964, originally supplying the US market with the Inver House Green Plaid brand of blended Scotch whisky. In 1988 the company was the subject of a management buyout and embarked on a period of growth which included the acquisition of five malt whisky distilleries – Pulteney, Balblair, Knockdhu, Speyburn and Balmenach. It was then purchased by the Pacific Spirits UK in 2001. Based in Airdrie, Inver House exports to over 80 countries and is active in distillation, warehousing and blending, with facilities for 500,000 barrels of whisky plus state-of-the-art blending facilities. Inver House has enjoyed steady growth year-on-year, with an +8% increase in turnover in 2005.
About Best Spirits Company
Best Spirits Company was incorporated in Hong Kong in 1983 and is now a leading distributor of Chinese spirits and wines, supplying both Hong Kong and overseas markets. The company is responsible for some of the region’s leading brands including Longevity, White Jade Horse, Flying Horse, Star and recent addition Shinobu Sake – all sourced from affiliated company TCC Ningbo Best Spirits Co. In 2004, Best Spirits Company assumed full marketing and distribution responsibility in Hong Kong for Thailand’s flagship beer brand Chang Beer, sourced through Thai Beverage Plc. The company’s 2006 revenues reached an estimated US$1.4 million and it currently has 18 staff based in Hong Kong.
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