30th November, 2015 by Lauren Eads

The company, formed through a $16 billion merger between Suntory and Beam in 2014, announced today that it had entered into a “definitive agreement” to sell its Jerez-based brandy and sherry interests to Emperador Inc, believing they would be “of greater value” to another company.

The agreement includes the Fundador, Harveys, Terry and Tres Cepas brands, as well as its production operations in Jerez and Tomelloso, Spain.

“A recent review of our portfolio of brands and supply chain footprint led us to believe that our Spain-based brandy and Dherry business could be of greater value to another company,” said Steve Fechheimer, Head of Strategy and Corporate Development at Beam Suntory. “Our teams in Jerez and Tomelloso are outstanding, and I am confident that the operations and the brands produced there have a very bright future as part of Emperador Inc.”

These are not the first big brands that Beam Suntory has off-loaded this year, having sold its Louis Royer Cognac business to France’s Terroirs Distillers for €100 million (£74m) earlier this year.

Beam Suntory’s remaining brands include Jim Beam, Maker’s Mark and Knob Creek bourbons, as well as Japanese whiskies Kakubin, Yamazaki, Hakushu and Hibiki. Its Scotch portfolio includes Teacher’s, Laphroaig, and Bowmore, alongside Courvoisier cognac, Sauza tequila, Pinnacle vodka, and Midori liqueur. 

Read More at Source | Drinks Business