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.
“We thank Skip Cortese and Trey and Tim Litel, the founders of Louisiana Spirits and Bayou Rum, for creating a spirit with such a fantastic heritage and high-quality taste, we are committed to the Louisiana roots that they established seven years ago,” said Hugues Pietrini, global president and CEO of Stoli Group. “Bayou Rum is a premium range that is primed for significant distribution growth in the U.S. and globally. This acquisition will allow our team to take this brand to the next level, working with the distillery team on new ranges, increasing volumes and becoming a true player in the rum category.”"This acquisition will allow our team to take this brand to the next level, working with the distillery on new ranges, increasing volumes and becoming a true player in the rum category," says SPI Group global president and CEO Hugues Pietrini. Hugues adds that the portfolio is "primed for significant distribution growth in the US and globally." After being named “Best Large-Scale Visitor Center” in Drinks International’s 2017 Distillery Experience Challenge, the Bayou Rum distillery broke ground last summer on an expansion, adding a barrel library, an event space and an outdoor entertainment venue, valued at more than $6 million.
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"