Beam to sell several cheaper brands for $65M

Source: Chicago Tribune

By Samantha Bomkamp

January 21, 2013

Beam Inc., which makes Jim Beam and Maker's Mark bourbon, said Monday it has agreed to sell several of its lesser-known brands to Luxco Inc. for a combined $65 million.

 The brands include Calvert, Bellows, Wolfschmidt vodka, Dark Eyes vodka, Canada House Canadian, and Tempo Triple Sec. The Calvert brand includes Lord Calvert Canadian, Calvert Extra and gin, while Bellows' line incorporates blended whiskey, Bourbon, gin, rum, Scotch and vodka.

They are all distributed in the U.S. and posted revenue last year of about $30 million on sales of 1.8 million cases.

Deerfield-based Beam said the sale of these cheaper brands will allow it to streamline its offerings and focus on the brands it has acquired over the last two years, including Pinnacle Vodka, Calico Jack rum and Skinnygirl Cocktails.

The deal is expected to close by the end of the month, but Beam will continue to make and bottle the brands through at least next year.

Luxco is based in St. Louis.