William Grant to sell Irish Mist
Scottish distiller William Grant & Sons is to sell liqueur brands Irish Mist, Carolans and Frangelico to Gruppo Campari for €129 million.
William Grant bought the three brands from C&C earlier this year as part of a €300 million deal for its spirits division. The sale to Gruppo Campari will be completed on October 1st, 2010.
The Scottish distiller is retaining the Tullamore Dew Irish whiskey brand, and said it remained committed to making a significant investment in Ireland.
There will be no job losses as a result.
Gruppo Campari has signed a 10 year manufacturing services agreement for William Grant to provide blending and bottling services for the liqueur brands at its Clonmel bottling operations.
“Whilst Tullamore Dew was the key focus in our newly acquired portfolio, we always intended to develop the liqueur brands,” said chief executive Stella David. “However, we were offered a very attractive price from Gruppo Campari and believe they will be able to develop these brands given their relevant expertise.”
The company announced earlier this month that it would establish its new global marketing office in Dublin, creating 17 jobs. The office will manage global marketing operations for the firm’s non-Scotch brands including Sailor Jerry, Hendrick’s Gin and Tullamore Dew.