Please do not leave this page until complete. This can take a few moments.
Beam Inc., the company behind Jim Beam Bourbon, is buying the Pinnacle Vodka brand from Lewiston-based White Rock Distilleries for $605 million. The deal also includes White Rock's Calico Jack rum brand.
According to a press release from Beam, Pinnacle Vodka sales have consistently grown by double digits to make it the fourth-largest imported vodka brand in the country. Acquiring the brand will boost Beam's presence in the growing vodka market. Paul Coulombe, CEO of White Rock, said he was "pleased" to have grown the brand and now sell it to Beam. Launched in 2002, the vodka brand is known for its variety of flavors, including a line of whipped dessert flavors like chocolate, cherry and key lime.
Beam expects to finance the deal through existing credit facilities or new debt, or a combination of both. It's expected to be completed by the second quarter of this year.
White Rock Distilleries manufactures and markets a number of spirits, including vodka, tequila and whiskey. It sold more than three million 9-liter cases last year, according to the release. In 2007, it sold the Three Olives brand vodka to Proximo Spirits Inc., a new company, for an undisclosed price.
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Learn MoreWork for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Learn MoreFew people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Few people are adequately prepared for all the tasks involved in planning and providing care for aging family members. SeniorSmart provides an essential road map for navigating the process. This resource guide explores the myriad of care options and offers essential information on topics ranging from self-care to legal and financial preparedness.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
Comments