Sazerac Agrees to Acquire German Spirits Producer Berentzen Group
Louisville-based Sazerac has agreed to acquire the historic German spirits producer, Berentzen Group. The deal involves a cash offer of 5.55 euros per share (approximately $6.31), representing a premium of about 68% over Berentzen's three-month weighted average price before September 16. Subject to shareholder approval and expected to close by year-end, the acquisition will delist Berentzen from the Frankfurt Stock Exchange. Berentzen Group is one of Germany’s oldest spirit producers with a history spanning more than 250 years. It operates in over 60 countries and owns brands like Berentzen schnapps and Puschkin vodka, as well as nonalcoholic beverage lines. Sazerac CEO Jake Wenz stated the acquisition will enhance its European manufacturing and distribution capabilities for products such as Buffalo Trace. This marks Sazerac’s second major European deal in a year following the purchase of U.K.-based Au Vodka last month. The company has been aggressively expanding through acquisitions, particularly targeting brands appealing to younger consumers and acquiring distillery properties across the United States.
Topics: Alcohol industry Corporate strategy International expansion