SPI Group, affiliate of Stoli Group, today announced that it's taken on complete ownership of Bayou Rum and its award winning line of handcrafted Louisiana Rums.
SPI Group announced it has fully acquired Louisiana Spirits, the makers of Bayou Rum, per a release. SPI Group purchased a majority stake in the company (72.5%) in June 2016. You may recall, at the same time its subsidiary Stoli Group USA took over US distribution of the Bayou Rum brand, marking the company's first foray into craft spirits. No purchase price was disclosed.
SPI Group is also in the middle of a $6 million expansion project for the Louisiana Spirits facility, adding a barrel library, event space and outdoor entertainment venue [see WSD 11-30-2017]. Moreover, SPI Group is currently tangled up in a lawsuit with Louisiana Spirits founders LSBR. You may recall, LSBR claims SPI Group breached their contract, but SPI says the accusations are "baseless"