French wines and spirits producer Remy Cointreau SA (EPA:RCO) said on Monday it had finalised a GBP58m (USD92m/EUR73m) deal to acquire Isle of Islay-based single malt Scotch whisky distiller Bruichladdich Distillery Co Ltd.
The transaction was conducted through Remy Cointreau’s wholly-owned British unit Remy Cointreau UK Ltd under an agreement signed between the parties on 23 July.
The buyer said at that time the purchase price consisted of a payment of GBP48m and the assumption of GBP10m in Bruichladdich debt.
The acquisition is aimed at enhancing Remy’s high-end portfolio of brands and is part of its strategy in the spirits luxury segment, the buyer’s chief executive Jean-Marie Laborde said in July. According to John Mactaggart, chairman of the British distiller, the business will reach its full potential by taking advantage of Remy’s strong distribution network and experienced brand development.
Bank of AmericaMerrill Lynch and Dundas & Wilson CS LLP acted as advisors for Remy, while Moelis & Company and Burness LLP counselled Bruichladdich.
Bruichladdich was set up in 1881 and was resurrected from closure in December 2000 by Mark Reynier and a group of private investors.
Remy Cointreau, a producer and distributor of wine and spirits, operates in the cognac and liqueurs and spirits segments. The cognac business provides the Remy Martin branded products, while the liqueurs and spirits unit distributes liquors under the Cointreau, Izarra and Passoa brands, as well as spirits including rum brand Mount Gay, brandy St Remy, Ponche rum Kuna and brandy Metaxa.