One of the world’s largest spirit corporations is adding another brand to its portfolio.
Brown-Forman announced on Thursday that it will purchase Diplomático Rum for an undisclosed amount. The deal is projected to close within the next 90 days, according to an Oct. 6 press release.
“Diplomático Rum will join our expanding portfolio, giving Brown-Forman a market-leading entry into the fast-growing super-premium rum category. This aged rum brand has distinctive packaging, strong brand positioning, and a delicious tasting spirit,” Brown-Forman Corporation president and CEO Lawson Whiting states in the press release. “As part of this acquisition, we will welcome more than 100 new employees to Brown-Forman.”
Diplomático holds three series of rum, varying in age and production style: The Traditional Range, The Prestige Range, and The Distillery Collection. Expressions in the Prestige Range are aged for 12 years and finished in sherry casks, while the Distillery Collection features three carefully-crafted limited releases.
Current owner Destillers United Group S.L. will continue rum production at its original distillery in Venezuela. Brown-Forman will receive the company’s Panama location as part of the acquisition.
“We are proud to have pioneered and been instrumental in developing the super-premium rum category around the world. Diplomático Rum is ready to accelerate its growth with Brown‑Forman, one of the world’s most well-known spirits and wines companies,” a representative at Destillers United Group S.L. states in the press release. “We share a similar familial culture and know the brand will continue building on our legacy. We look forward to working together to bring Diplomático Rum to consumers around the world.”
Diplomático Rum distributes to over 100 countries, including its most prominent markets in France, Germany, and the United States. The Brown-Forman deal is currently being finalized and awaiting the transition’s closing conditions.