Scottish spirits company Edrington has taken full ownership of its Americas Travel Retail operations after agreeing to buy out its joint venture (JV) partner for an undisclosed amount.
The former JV, Edrington Webb Travel Retail Americas (EWTRA) was launched in 2015 as a partnership between Edrington and World Equity Brand Builders (WEBB).
The latest move will see Edrington establish itself as one of the global travel retail units.
The JV has been distributing and marketing Edrington’s brands such as Highland Park, the Macallan and Cutty Sark whiskies and Brugal rum in Americas travel retail, besides Fireball Cinnamon Whisky, Sazerac’s Southern Comfort, Blanton’s and Buffalo Trace.
Edrington will integrate the JV and take over the existing distribution contracts. Wine brands such as Cupcake Vineyards, Excelsior, Ramon Bilbao, Luc Belaire and Mionetto will now return to WEBB from EWTRA, after the deal has been finalised.
Edrington Americas Latin America and Travel Retail senior vice president Juan Gentile said: “The joint venture with WEBB, led by Andy Consuegra as chief executive officer, proved exceptionally successful, delivering high double digit growth.
“Edrington is now ready to fully integrate this business within our global travel retail structure, with full ownership of operations in the Americas. We already directly manage Asia, Europe and the Middle East through wholly owned distribution companies.
“The EWTRA buy-out is consistent with our strategy to offer a unified global presence in a channel which has seen increased consolidation by key retailers."
He stated that the company will now focus on building equity of its core brands such as The Macallan. Its distribution partners are also expected to play a crucial role in maintaining strength and scale of presence with duty free operators in the Americas.
Edrington Global Travel Retail managing director Igor Boyadjian said: “The acquisition of Edrington Webb Travel Retail Americas marks the opening of a new era for Edrington, establishing a fully owned and integrated Global Travel Retail business unit."
Edrington has recently acquired The Glenrothes Speyside Single Malt Scotch whisky brand from Berry Bros & Rudd for an undisclosed sum.
Edrington will reunite the Glenrothes brand with The Glenrothes distillery and cooperage, which the company owned and has been running through Highland Distillers since 1887.
