San Francisco – January 14, 2019 – Cooley advised Sazerac on its purchase of 19 alcoholic beverage brands, including Seagram’s VO, from Diageo for $550 million. Partners Ben Beerle and Jason Kent led the Cooley team advising Sazerac on the acquisition, which was completed in late December.
“We are delighted to acquire these iconic brands from Diageo and are looking forward to working closely with our wholesalers and customers to provide the focus to maximize the full global potential of the brands,” said Jake Wenz, Sazerac’s chief operating officer, in a statement.
Sazerac additionally purchased the Seagram’s 83, Seagram’s Five Star, Myers’s, Romana Sambuca, Yukon Jack, Booth’s, Goldschlager, Popov, Relska, The Club, Black Haus, Peligroso, Grind, Piehole, Parrot Bay, Stirrings, Scoresby and John Begg brands as part of the transaction.
Also as part of the transaction, Diageo agreed to enter into long-term supply contracts with Sazerac for five of the brands, each for a period of 10 years. Supply of all other brands will transition to Sazerac within a one-year period from completion of the transaction.
Sazerac is one of America’s oldest family-owned, privately held distillers and the owner of Buffalo Trace Distillery and Glenmore Distillery, among others.
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