BACARDI ACQUIRES ST-GERMAIN LIQUEUR
Bacardi Limited has gone shopping and picked up a real gem. The Bermuda-based drinks company has acquired St-Germain. Bacardi is buying the brand from the Cooper Spirits Co., which is based in New York and also has an office in Palm Beach. Terms of the deal were not disclosed as both are privately held companies. Since its launch in the US in 2OO7, St-Germain grew by more than 5O percent in 2O11 to reach nearly 77,OOO cases worldwide, according to IWSR, an industry data source. In 2O12, that growth was expected to continue with a projected 1OO,OOO cases in sales worldwide.
Founder Robert Cooper said he wasn’t actively looking to sell but began having conversations with Bacardi Deputy Chairman Barry Kabalkin about the possibility. Ultimately, Cooper decided that selling to a larger international company would help foster St-Germain’s future growth as well as ensure that brand maintains its French hand-crafted, artisanal roots. Cooper will not hold any ownership stake, but he will remain available as a consultant to Bacardi and the “brand protector” of St-Germain. Cooper is a third-generation distiller, his family created Chambord.