Latvia-based Amber Beverage Group has entered the UK drinks market through the acquisition of a “strategic stake” in distributor Cellar Trends.
The transaction is an “exciting opportunity” for SPI Group-owned Amber Beverage Group to expand its international footprint and “learn more” about the UK market, the firm said.
The value of the deal has not been disclosed, but both parties have stated that the management and operational control of Cellar Trends remains unchanged with the Watts and Marriott families continuing to lead the business as majority shareholders.
Amber Beverage Group said it is looking forward to integrating its portfolio of beverages within the Cellar Trends portfolio, a move that will offer “great synergy that will guarantee stability and opportunity for growth for all brands”.
“Cellar Trends has extensive expertise, experience and knowledge developed over many years creating markets for many iconic and well- known brands,” said Amber Beverage Group CEO, Seymour Ferreira.
“By joining forces and experience, we look forward to bringing new and compelling experiences to the UK and, over time, strengthening our market presence.”
Martin Watts, Cellar Trends’ joint managing director with David Marriott, added: “Cellar Trends and our employees have a terrific track record in developing brands over the last 18 years, and this partnership will give us access to other product areas, and strengthen our portfolio and teams for the benefit of both existing and new brand owners.
“We share with the Amber Beverage Group team the same philosophy on ways in which to work closely in partnership with brand owners, building their brands in the UK, to mutual advantage.”
The investment in Cellar Trends comes after a series of acquisitions from Amber Beverage Group and parent firm, SPI Group. In September 2016, the company acquired a “significant equity stake” in Fabrica de Tequilas Finos, while SPI Group snapped up Kentucky Owl Bourbon in January 2017. The developments follow a partnership with Bayou Rum which was first struck up in 2015.
The source: www.thespiritsbusiness.com