US-based Sazerac Company buys stake in John Distilleries
John Distilleries Private Limited (JDPL), a leading liquor maker in India, today announced that Sazerac Company, a family-owned spirits company in the United States has acquired an equity stake in it.
Sazerac, owners of brands including Fireball, Southern Comfort, Buffalo Trace Bourbon, Pappy Van Winkle Bourbon and E H Taylor Bourbon, had acquired an equity stake in JDPL from Gaja Capital, who would continue to remain partially invested in the company, a release said.
This strategic partnership marks Sazerac's entry into the Indian market, one of the largest and fastest growing markets for spirits in the world, it added.
"Sazerac's technological expertise coupled with a global portfolio of brands spread across all spirit categories will be an added advantage for JDPL both in domestic and in global markets. We look forward to this partnership with Sazerac and in continuing to make our brands even stronger," JDPL's chairman and managing director Paul John said.
JDPL claims to be a leading spirits company in India with gross revenues of over Rs 28 billion in FY17.
With sales of more than 13 million cases, JDPL's portfolio includes Original Choice Whisky, Bangalore Malt, Paul John Single Malt (PJSM) and Big Banyan wines.
"We are extraordinarily excited to be able to establish this partnership in India, and look forward to working with Paul John and his team in supporting JDPL's iconic brands," said Sazerac Company's pPresident and chief executive officer Mark Brown.
Jefferies India acted as the exclusive financial advisor to Gaja Capital and Sazerac was advised by Rabobank.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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