Bacardi Takes Control Of Leblon Cachaça, As Dealmaking ContinuesJuly 9, 2015
Bacardi has acquired full ownership of Leblon, the cachaça brand in which it has held a minority stake since 2007. Under the terms of the deal, longtime U.S. chief Steve Luttmann will continue to lead Leblon, which is positioned at the higher end of the cachaça category at around $25-$30 retail. While cachaça—and its signature Caipirinha cocktail—enjoyed an increase in U.S. popularity in recent years, it remains a small part of the U.S. spirits pie, with only 82,000 cases of so-called “Brazilian rum” imported to the U.S. last year, according to Impact Databank. Leblon has carved out a significant share within the segment, selling about 45,000 cases annually.
The deal for Leblon marks a continuation of an active M&A period for Bacardi, which earlier this week announced the acquisition of boutique label Banks rum. This spring, Bacardi entered the Bourbon category with the purchase of the Kentucky-based Angel’s Envy brand.
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