William Grant & Sons Acquires Drambuie Liqueur
Source: Shanken News Daily
William Grant & Sons has bolstered its liqueurs stable with the acquisition of Drambuie Liqueur Company Ltd. and its namesake brand. The seller was Scotland’s MacKinnon family and the price was undisclosed, although there was speculation earlier this summer that bids would be in the area of £100 million ($161m).
Known for its part in the Rusty Nail cocktail, Drambuie—whose history dates to 1745—posted net sales down 3% to £22 million ($37m) in its full fiscal year to June 2013. According to Impact Databank, the brand was down 12% to 61,000 cases in the U.S. in 2013, where it’s currently handled by Bacardi USA.
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