SPAIN – Brown–Forman Corporation, one of America’s largest spirits and wine companies, has strengthened its position in the gin market with the acquisition of Gin Mare, the world’s leading ultra-premium gin brand, for an undisclosed sum.
Jack Daniel’s and Finlandia owner has struck a deal with the distillers Vantguard and MG Destilerías to officially add Gin Mare and Gin Mare Capri to its growing portfolio within 60 business working days, according to the agreement.
Gin Mare is a Spanish gin with a Mediterranean-inspired recipe of botanicals, including Arbequina olives, thyme, rosemary, and basil. Gin Mare Capri, introduced last year, is made with Italian bergamot and lemons, along with Gin Mare’s four principal botanicals.
Gin Mare, which was founded in 2010 by the Giró Family of MG Destilerías and Alfonso Morodo and Antonio Pardo of Vantguard, has grown very fast.
Currently, it is sold in more than 70 countries and is the largest ultra-premium gin brand in the world according to IWSR.
Vantguard’s spirits portfolio includes Curado Tequila, Flaming pig Irish whiskey and another gin brand, Ginraw.
Lawson Whiting, President, and CEO, of Brown-Forman Corporation, said: “Gin Mare and Gin Mare Capri are unique gin brands with impressive sales growth and strong distribution in important European markets. They are excellent complements to Brown-Forman’s super-premium portfolio.”
We believe this exciting acquisition enhances our capacity to deliver meaningful global growth for the long term.”
The acquisition comes at a time when the gin market experiencing explosive growth primarily driven by increased demand for premium cocktails is attributed to the rise in the trend of mixed drinks and crafted cocktails, the emergence of modern on-trade channels in economies, and an increase in disposable income.
Allied Market Research projects the global gin market valued at US$14.03 billion in 2020 to reach US$20.17 billion by 2028, growing at a CAGR of 4.9% during the forecast period 2021 to 2028.
Lawson Whiting explained that US-based spirits major went for the Spanish gin brands because they unique gin brands with impressive sales growth and strong distribution in important European markets.
He believes this exciting acquisition enhances the company’s capacity to deliver meaningful global growth in the long term.
Gin Mare will continue to be produced at MG Destilerías in Vilanova i la Geltrú, a ﬁshing village in Spain.
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