V&S signs agreement to sell Florida Distillers
V&S Group has signed an agreement to sell Florida Distillers, which was part of the acquisition of Cruzan Rum, to Belvédère, a French spirit group.
“The divestment of Florida Distillers is part of our strategy to maintain focus on our branded spirits business. Florida Distillers is non-core to V&S,” says Mats Andersson, Senior Vice President V&S Business Development.
Florida Distillers is a leading manufacturer and marketer of bulk and branded beverage alcohol products, specialty foods and ingredients. The Company also has a contract bottling operation and is the leading producer in the U.S. of citrus brandy and citrus spirits. It also produces cooking wines and vinegar products. Florida Distillers conducts its operations through four facilities in Florida and Kentucky, in the US.
The operation had sales in 2006 of approximately SEK 600 million.