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.
