Paris July 23rd, 2012
RÉMY COINTREAU AND BRUICHLADDICH ANNOUNCE THAT AN AGREEMENT HAS BEEN REACHED FOR RÉMY COINTREAU TO PURCHASE THE ENTIRE SHARE CAPITAL OF BRUICHLADDICH DISTILLERY COMPANY LIMITED
Rémy Cointreau UK Limited, a wholly owned subsidiary of the Rémy Cointreau Group has agreed to acquire Bruichladdich Distillery Company Limited (“Bruichladdich”), the Islay single malt Scotch whisky distiller.
The transaction marks the group’s first move into the premium single malt Scotch whisky market, a category experiencing strong growth all over the world, especially in the very high-end segment. This deal sustains Rémy Cointreau’s long term value strategy, geared to investing into international premium spirits with strong “savoir-faire”.
Bruichladdich, the progressive Hebridean distiller, was purchased in December 2000 by Mark Reynier and a group of private investors who resurrected the Victorian distillery developing it in to an exciting brand with worldwide acclaim.
Total transaction value amounts to £58m, comprising of £48m for the acquisition of the entire share capital of Bruichladdich and estimated debt of £10m that Rémy Cointreau will assume.
Jean-Marie Laborde, Chief Executive Officer of Rémy Cointreau said:
“The acquisition of Bruichladdich, a renowned Islay single malt with a rich and exciting heritage, is a great opportunity to enrich our high-end portfolio of brands and to confirm our strategy in the spirits luxury segment. We expect Bruichladdich to sit proudly alongside our other brands and we look forward to working closely with Bruichladdich’s experienced and passionate management team”.
Sir John Mactaggart, Chairman of Bruichladdich declared:
“This is an excellent transaction for Bruichladdich, the Islay community and a wonderful opportunity for the company to reach its full potential, under the stewardship of Rémy Cointreau with their strong distribution network and their experienced brand development. I’m confident that Bruichladdich will establish itself as one of the Scotch whisky industry’s best known and acclaimed premium brands.”
Completion of the transaction is expected to occur within 6 weeks.
Bank of America Merrill Lynch acted as the exclusive financial advisor to Rémy Cointreau, and Dundas & Wilson CS LLP acted as legal advisor. Moelis & Company acted as exclusive financial advisor to Bruichladdich, and Burness LLP acted as legal advisor.
Bruichladdich, the progressive Hebridean distiller, has a rich and diverse heritage. Founded in 1881 in the western part of the island of Islay, the distillery was resurrected from closure in 2000, and now produces a single malt Scotch whisky recognized by experts the world over. Terroir, provenance and traceability are key tenets with organic and Islay barley the basis of extensive maturing stocks. Bruichladdich is distilled in exceptionally tall and narrow-necked stills for elegance, and matures in both French and American oak casks for variety. Bruichladdich single malts are distilled, aged and bottled on site, free from colouring and non-chill-filtered. Port Charlotte, a heavily peated expression, and Octomore, the world’s most heavily peated whisky, are also distilled there.
For further information, please contact Frédéric Pflanz on + 33 1 44 13 45 82 or Joëlle Jézéquel on +33 1 44 13 45 15