Deep Eddy Quashes Sale Rumors
May 14, 2015Austin, Texas’ Deep Eddy Spirits LLC is denying reports that it is considering a sale of its Deep Eddy Vodka business. The company tells SND it has been approached by some industry leaders in the past about acquiring or investing in the brand, but that it plans to maintain its independence.
“With the help of investment banks, we continue to evaluate strategic growth initiatives, which could include partnerships, exporting relationships and even acquisitions of other brands,” Deep Eddy CEO Eric Dopkins said in a statement. The Wall Street Journal yesterday reported that Deep Eddy had hired UBS to seek a buyer for the business.
An Impact “Hot Brand,” Deep Eddy ($19.99 a 750-ml.) grew 130% last year in the U.S. to reach 330,000 cases. Noting that the brand is in less than 10% of spirits accounts in the U.S. currently, the company says its goal is to reach 1 million cases by the end of 2016.
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