Wednesday, June 28, 2017
Cockspur Rum Brand Sold
Goddard Enterprises Limited, has concluded an agreement to sell its majority interest in International Brand Developers N.V., owner of the Cockspur Rum brand. GEL has had a long association with the Cockspur brand, dating back to the days when it sponsored the Cockspur Gold Cup Race in the early 1980s. This race and the promotion of it for 15 consecutive years, helped to propel the Cockspur rum brand to the position of market leader.
Following this success, the Cockspur brand had been met with aggressive campaigns from other brands and changing market forces, and so, options were explored to grow the brand. GEL then investigated various options for the future of the brand as it determined that the spirits industry no longer fitted in with its business strategy.
A global search ensued but an eventual offer came from an internationally experienced company in Barbados – Woodland Radicle Limited and its affiliated companies (the “WR Group”) – with a global reputation in brand creation, brand building and activation of beverage brands. The WR Group sees great potential for the Cockspur brand.
The WR Group management team is comprised of Damian McKinney, Steve Wilson and Allan Reinecker supported by local investors. Damian McKinney, who is based in Barbados, was until recently the creator and owner of McKinney Rogers Consulting – a global business execution agency specializing in bringing businesses and brands back to greatness with a very impressive list of global clients and brands. Steve Wilson is a veteran in the creation of global spirits. He was involved with many well-known brands including Bailey’s Irish Cream, Malibu, Ciroc Vodka and Smirnoff Ice. Allan Reinecker is an expert in global finance and business development having concluded many beverage deals globally.
In terms of changes as a result of the sale, the headquarters for Cockspur will be at the WR Group’s corporate base in Woodland, St George. Highly motivated individuals will be recruited to work with a network of distributors globally to aggressively market the brand, while local distribution for the brand will remain with Hanschell Inniss Limited, a subsidiary of GEL. The brand will continue to be produced in Barbados.