SPI Group Hits Back At Lawsuit Lodged By Bayou Rum Minority OwnerMay 31, 2018
Late last week, SND reported that LSBR Holding Company—which holds a minority share in Bayou Rum and Louisiana Spirits—has filed a lawsuit against majority owners SPI Group and Stoli Group USA, alleging breach of contract. Now, SPI has responded to the allegations, saying it “will vigorously defend against the claims leveled by LSBR.”
Denying LSBR’s complaint that its conduct has “destroyed the economic value” of Louisiana Spirits and Bayou Rum, SPI Group said in a statement that it “has operated, and indeed continues to operate, with the long-term best interest of Louisiana Spirits as a priority focus, as evidenced by the $6 million commitment SPI made to the Bayou Rum distillery, allowing for a significant increase in production and embarking on the additions of a barrel library, tasting area, event space, and outdoor entertainment venue to the brand’s home in Lacassine, Louisiana.”
SPI went on to assert that it “has complied with all contractual obligations with LSBR and, as such, has filed motions to dismiss.” The SPI statement concluded, “It is unfortunate that LSBR has chosen to file baseless lawsuits rather than to work with SPI, who owns the controlling interest in Louisiana Spirits, to ensure growth and continued success for its award-winning range of rums.”—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
Tagged : Bayou Rum, LSBR Holding Company, SPI Group, Stoli Group USA
GET YOUR FIRST LOOK AT 2021 DATA AND 2022 PROJECTIONS FOR THE WINE AND SPIRITS INDUSTRIES. ORDER YOUR 2022 IMPACT DATABANK REPORTS. CLICK HERE.