{"id":692809,"date":"2022-10-06T07:48:02","date_gmt":"2022-10-06T11:48:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/brown-forman-to-purchase-diplomatico-rum-brand\/"},"modified":"2022-10-06T07:48:02","modified_gmt":"2022-10-06T11:48:02","slug":"brown-forman-to-purchase-diplomatico-rum-brand","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/brown-forman-to-purchase-diplomatico-rum-brand\/","title":{"rendered":"Brown-Forman to Purchase Diplom\u00e1tico Rum Brand"},"content":{"rendered":"

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Brown-Forman to Purchase Diplom\u00e1tico Rum Brand<\/b><\/p>\n

Global Super-Premium Rum Brand and Related Assets to Join Portfolio<\/i><\/b><\/p>\n

LOUISVILLE, Ky.–(BUSINESS WIRE<\/a>)–
\nBrown-Forman Corporation (NYSE:BFA, BFB) announced today it has reached an agreement to purchase the Diplom\u00e1tico Rum brand and related assets from Destillers United Group S.L. (Spain). Upon completion of the transaction, Brown-Forman will add the Diplom\u00e1tico Rum family of brands to its portfolio and acquire a production facility located in Panama.\n<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20221006005524\/en\/<\/a><\/p>\n

\"Diplom\u00e1tico<\/p>\n

Diplom\u00e1tico Rum (Photo: Business Wire)<\/p>\n<\/div>\n

\nThe Diplom\u00e1tico Rum family of brands is the No. 1 super- and ultra-premium rum and the No. 2 super-premium+ rum worldwide (IWSR, 2021). Super-premium+ rum has grown at an annual rate of 17% over the past five years, with rum accounting for approximately 8% of global spirits.\n<\/p>\n

\n\u201cDiplom\u00e1tico Rum will join our expanding portfolio, giving Brown-Forman a market leading entry into the fast-growing super-premium rum category. This aged rum brand has distinctive packaging, strong brand positioning, and is a delicious tasting spirit,\u201d said Lawson Whiting, President and CEO, Brown-Forman Corporation. \u201cAs part of this acquisition, we will welcome more than 100 new employees to Brown-Forman.\u201d\n<\/p>\n

\nDestillers United Group S.L. will continue to produce and age the unique, carefully-crafted, and complex Diplom\u00e1tico Rum in their original distillery at the foot of the Andes mountains.\n<\/p>\n

\n\u201cWe are proud to have pioneered and been instrumental in developing the super-premium+ rum category around the world. Diplom\u00e1tico Rum is ready to accelerate its growth with Brown-Forman, one of the world\u2019s most well-known spirits and wines companies,\u201d stated Destillers United Group S.L., current owner of the Diplom\u00e1tico Rum brand. \u201cWe share a similar familial culture and know the brand will continue building on our legacy. We look forward to working together to bring Diplom\u00e1tico Rum to consumers around the world.\u201d\n<\/p>\n

\nDiplom\u00e1tico Rum is sold in more than 100 countries. Top markets include France, Germany, and the United States.\n<\/p>\n

\nDiplom\u00e1tico Rum consists of three ranges of complex rums. The Traditional Range includes Planas, Mantuano, Reserva Exclusiva, and Selecci\u00f3n de Familia. The Prestige Range includes Single Vintage and Diplom\u00e1tico Ambassador, both aged 12 years and finished in Spanish sherry casks. The Distillery Collection includes a range of three limited production bottlings that showcase the distillery’s unique distillation methods.\n<\/p>\n

\nThe transaction, which is subject to customary closing conditions, is expected to close within 90 days.\n<\/p>\n

Photo: <\/b>Diplom\u00e1tico Rum<\/b><\/a><\/p>\n

About Diplom\u00e1tico Rum:<\/b><\/p>\n

\nDiplom\u00e1tico is a super-premium rum from Venezuela. In 2018, Diplom\u00e1tico was awarded Wine Enthusiast’s prestigious “Spirit Brand of the Year,” the first-ever rum to win in this category. The Diplom\u00e1tico Rum distillery is located at the foot of the Andes Mountains and is family-owned. Diplom\u00e1tico Rum’s distillery combines traditional methods with modern technology to produce the finest of rums. The production area boasts great conditions for sugar cane and rum production including fertile lands, abundant water, and a Caribbean climate.\n<\/p>\n

www.ronDiplom\u00e1tico.com<\/a>, @Diplom\u00e1tico rum\n<\/p>\n

About Brown-Forman:<\/b><\/p>\n

\nFor more than 150 years, Brown-Forman Corporation has enriched the experience of life by responsibly building fine quality beverage alcohol brands, including Jack Daniel’s Tennessee Whiskey, Jack Daniel’s Tennessee RTDs, Jack Daniel’s Tennessee Honey, Jack Daniel’s Tennessee Fire, Jack Daniel’s Tennessee Apple, Gentleman Jack, Jack Daniel’s Single Barrel, Woodford Reserve, Old Forester, Coopers\u2019 Craft, The GlenDronach, Benriach, Glenglassaugh, Slane, Herradura, el Jimador, New Mix, Korbel, Sonoma-Cutrer, Finlandia, Chambord, and Fords Gin. Brown-Forman\u2019s brands are supported by approximately 5,200 employees globally and sold in more than 170 countries worldwide. For more information about the company, please visit brown-forman.com<\/a>. Follow us on Twitter<\/a>, Instagram<\/a>, and LinkedIn<\/a>.\n<\/p>\n

About Destillers United Group S.L.:<\/b><\/p>\n

\nFor more than 20 years, Destillers United Group (DUG) has produced Diplom\u00e1tico Rum with passion using their expertise in combining modern and traditional distillation methods to produce exceptional rums for demanding palates. DUG’s identity is forged through a commitment to quality, making rums and other beverage alcohol brands, including Canaima Gin, CocuySoroche, Cinco Estrellas, Rumba Ron; as well other rum liquors, whiskies, whiskies liquors, Brandy, Vodkas, Vodka Liquors, Anis, Wellington Gin, Bitters, Mixers, and Aperitives. DUG brands are supported by approximately 600 employees globally and are sold in more than 100 countries worldwide.\n<\/p>\n

Important Information on Forward-Looking Statements:<\/b><\/p>\n

\nIn these notes, \u201cwe,\u201d \u201cus,\u201d \u201cour,\u201d and the \u201cCompany\u201d refer to Brown-Forman Corporation and its consolidated subsidiaries, collectively. This report contains statements, estimates, and projections that are \u201cforward-looking statements\u201d as defined under U.S. federal securities laws. Words such as \u201caim,\u201d \u201canticipate,\u201d \u201caspire,\u201d \u201cbelieve,\u201d \u201ccan,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201cenvision,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cexpectation,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cproject,\u201d \u201cpursue,\u201d \u201csee,\u201d \u201cseek,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould,\u201d and similar words indicate forward-looking statements, which speak only as of the date we make them. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. By their nature, forward-looking statements involve risks, uncertainties, and other factors (many beyond our control) that could cause our actual results to differ materially from our historical experience or from our current expectations or projections.\n<\/p>\n

\nThese risks and uncertainties include, but are not limited to:\n<\/p>\n