News Alert: Bacardi Fully Acquires Stillhouse SpiritsNovember 15, 2019
Bacardi has agreed to fully acquire Stillhouse Spirits for an undisclosed sum, after previously making an investment in the brand in 2014.
In a statement, Bacardi said, “We are pleased to have come to a mutual agreement as we have always admired the Stillhouse brand for its innovation, disruption of categories, and marketing ingenuity. We believe in the brand’s growth potential and are excited to continue the pioneering vision that the founder set for Stillhouse.”
Earlier this year, Stillhouse founder and CEO Brad Beckerman filed a $100 million lawsuit against Bacardi for allegedly denying further funding for the brand and attempting to acquire it “substantially below market value.” In March, Stillhouse said it shipped 50,000 cases last year and was on pace to ship 70,000 cases in 2019.
With Bacardi acquiring the company, that dispute has been resolved with no settlement or concession made by Bacardi. Beckerman will step away from the business. Bacardi North America CEO Pete Carr will serve as its leader.
Stillhouse Spirits is known for its line of whiskies and vodka packaged in oversized flask-shaped cans.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.