This acquisition will allow Sazerac to extend its portfolio into the super-premium craft market, the company says in a press release. as well as expand its European footprint.
The existing Last Drop Distillers team will continue to run the business autonomously.
The Last Drop Distillers is “dedicated to discovering and bottling some of the most exclusive spirits in the world,” the company says. Industry veterans James Espey and Tom Jago founded the company in 2008. The two had previously been involved in the creation of Johnnie Walker Blue Label, Chivas Regal 18 Year Old, The Classic Malts, Malibu, and Baileys Irish Cream. Today, the company is run by their two daughters, Beanie Espey and Rebecca Jago.
Last Drop Distillers is “looking towards accelerated growth as global demand for luxury goods continues to rise,” the company says. Hence, the recent appointment of the former CEO of Morrison Bowmore Distillers, Mike Keiller, as a Board Director.
Mark Brown, president and CEO of The Sazerac Company said: “We are very excited to be partnering with such industry legends as Tom and James. Equally, we are looking forward to working alongside their daughters Rebecca and Beanie as well as the rest of The Last Drop Distillers team in bringing some of the rarest spirits available to the global consumer market. As a family owned company we fully appreciate the value of a small, engaged and passionate team in a venture such as The Last Drop Distillers and look forward to continuing the excellent progress the business has made since its inception.”
James Espey, Co-Founder and Chairman of The Last Drop Distillers said:
“This acquisition marks the next stage of The Last Drop Distillers story that will see us take the brand into the next phase, while retaining and building on our core values of exclusivity, craft and excellence,” says James Espey of the acquisition by Sazerac. “The investment allows us to grow our international footprint and broaden our opportunities to search for the rarest spirits in the world.”
The terms of the deal were not disclosed.
The Last Drop collection currently includes:
· Release VI The Last Drop 50 Year Old Double Matured Whisky
· Release V The Last Drop 1967 Glen Garioch Single Malt
· Release IV The Last Drop 48 Year Old Blended Scotch Whisky
· Release III The Last Drop 50 Year Old Blended Scotch Whisky
· Release II The Last Drop 1950 Cognac
· Release I The Last Drop 1960 Blended Scotch Whisky.