Bacardi has found its bourbon.
Bacardi Limited, the largest privately held spirits company in the world, has expanded its portfolio of spirits with the acquisition of Louisville-based Angel’s Share Brands, its subsidiary, Louisville Distilling Co., and its Angel’s Envy brand.
This deal marks the company’s entry into the bourbon category of the North American whiskey sector. Terms of the transaction, closed on March 27, were not disclosed.
“We have a clear strategy aligned to meet consumer needs in premium spirits,” said Bacardi Limited CEO Mike Dolan.
The flagship brand, Angel’s Envy Port Finished Bourbon, is one of the top ten fastest growing super-premium bourbons in the United States, according to a press release. As a whole, the American straight category has experienced a resurgence in the past five years, with a nearly five percent growth rate, while the super-premium American straight segment has grown nearly 10 percent during the same time.
Angel’s Envy will continue as a standalone operation. The business structure, employee base, production, distribution, commercial and marketing activities will remain unchanged. Angel’s Envy’s new distillery and brand experience center in downtown Louisville is planned for a 2016 opening.
Angel’s Envy is hand-blended in small batches of 8 to 12 barrels. Each batch is allowed to develop naturally, creating nuances in the liquids from year-to-year.
The three expressions of Ange’s Envy are currently available in on- and off-premise establishments throughout the U.S.