Japanese-based Kirin announces deal to sell the Four Roses bourbon brand to wine giant Gallo [Yahoo! Finance Canada]
KIRIN HLDGS CO LTD S/ADR (KNBWY)
US:NASDAQ Investor Relations:
kirinholdings.co.jp/english/ir
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Source: Yahoo! Finance Canada
The wine giant said it plans to add a prominent Kentucky bourbon brand to its portfolio in a deal to purchase Four Roses Distillery from Japanese-based Kirin. The deal, valued at up to $775 million, is expected to close in the second quarter of this year, Kirin said in a release. California-based Gallo said no changes are planned in operations, production or distribution once it acquires the Four Roses brand — produced in Lawrenceburg in the heart of Kentucky bourbon country. “As we move through the regulatory process and await a closing date, we're incredibly excited about this acquisition and the opportunity to welcome Four Roses into our portfolio,” Gallo said in a statement. Founded in 1933 by brothers Ernest and Julio Gallo, Gallo is a family-owned company with an extensive portfolio in wine, spirits, malt beverages and ready to drink products. Kirin said Four Roses has achieved strong growth, primarily in the U.S., since it acquired the brand in 2002. "Kirin regularly
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