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| Bayou Select |
LSBR Holding Company,
which holds a minority share in Bayou Rum and Louisiana Spirits, has filed a
lawsuit against SPI Group and Stoli Group USA, alleging breach of contract. In
2015, SPI purchased a minority stake in Louisiana Spirits, with Stoli Group USA
gaining exclusive U.S. distribution rights. The following year, according to a copy of the
lawsuit obtained by SND, SPI agreed to take majority control of the company.
Filed with the U.S. District Court for the
Southern District of Texas in December, the suit accuses SPI and Stoli of
failing to live up to their contracts with LSBR Holding Company throughout
their partnership. The rum maker asserts that SPI “committed conduct that has
destroyed the economic value” of Louisiana Spirits and Bayou Rum. Specific
complaints include SPI’s initial disclosure of its minority ownership in Bayou
in violation of a confidentiality agreement—which LSBR Holding Company argues
was detrimental to the brand’s craft image—as well as unilateral packaging and
label changes and inadequate leadership and sales support, among other issues.
There is a lot more to his story that you can read at http://www.shankennewsdaily.com/index.php/2018/05/25/20852/spi-and-stoli-group-sued-by-lsbr-holding/
