Beam Global Inc. a premium spirits company has announced an agreement to purchase award-winning independent Irish whiskey producer, Cooley Distillery. The acquisition will enable Beam entrance to one of the spirit industry’s fastest growing categories. Completion of the transaction is expected in the first quarter of 2012.
According to Impact Databank the Irish whiskey category has seen an 11.5% increase to 4.86 million cases sold in 2010. The fastest growing markets for the whisky are the US, UK, France and South Africa. According to Aztec Australia has also seen a 14.8% increase in Irish Whisky sales between 2009 and 2011.
Cooley has both grain and malt distilleries, including the still active 1757 Kilbeggan Distillery, reputed to be the world’s oldest distillery; enabling the production of a complete range of Irish whiskey styles. Cooley’s currently sells approximately 250,000 cases of its whiskey’s every year and has won many accolades, including European Spirits Producer of the Year for the past 4 years.
Cooley owns and produces 4 award winning brands of Irish whiskey:
- Kilbeggan, and
Matt Shattock, president and chief executive officer of Beam says “Cooley’s brands and distilleries have a heritage that’s unmatched in the world of Irish whiskey, so they will be a great fit with our portfolio of brands with long and rich histories.
“We look forward to being good stewards of these iconic Irish assets. We are also eager to work with the Cooley team, led by the Teeling family, who have built Cooley with so much pride and passion, to capitalize on the opportunities that lie ahead.”
John Teeling, Chairman and Founder of Cooley Distillery explains that the decision to reach an agreement with Beam was based on Beam’s understanding of quality whiskey’s enabling the Cooley portfolio to really fulfil its global potential.