Corby Spirit and Wine Limited has sold its British rum brand Lamb’s to Canada’s Phildan and France’s Cofepp for US$39.2 million ($55.5 million).
Lamb’s is considered one of the leading rum brands in the UK and Canada, with its spirit blend available in Australia through select merchants and liquor retailers. Corby purchased the international rights to the label in 2006.
Under the agreement, Phildan, part of the Dandurand Group, acquired the North American rights to the brand, while its co-buyer Cofepp secured the rights for the rest of the world.
Florence Tresarrieu, Corby president and CEO, said the deal will simplify the company’s portfolio, allowing it to focus resources on priority growth categories, including ready-to-drink beverages and premium spirits.
“The sale of Lamb’s is a disciplined portfolio management decision that supports Corby’s long-term strategy.”
This acquisition will also strengthen Phildan’s spirits portfolio while reflecting its long-term commitment to investing in brands with strong consumer recognition and growth potential, according to Phildan’s president Hugues Gauthier.
“Lamb’s is one of Canada’s most recognised rum brands, and we’re proud to welcome it into the family,” said Gauthier.
Christophe Pichambert, international director at Cofepp’s La Martiniquaise-Bardinet, added: “Lamb’s is a well-established brand that complements our existing portfolio and strategic objectives. We are excited about the opportunities ahead and committed to supporting the brand’s continued success.”
The deal is still subject to customary adjustments. Corby and its affiliates will provide post-closing production and distribution support to the buyers.
