Saturday, June 02, 2012
Beam Inc. Completes Acquisitions From White Rock Distilleries For $605 Million
(News Brief by Shanken News Daily) Beam Inc. has completed its acquisition of Pinnacle vodka and Calico Jack rum from White Rock Distilleries for $605 million. Last year, Pinnacle (an Impact Hot Brand) sold 2.7 million cases on 93% growth, and the brand has the potential to become Beam’s biggest-volume brand in the U.S. market by the end of 2012. Beam CEO Matt Shattock said the company will “substantially increase brand investment” in Pinnacle, which recently launched its first TV ads behind a $7-million 2012 ad budget under White Rock. Calico Jack rum, also an Impact Hot Brand, sold 400,000 cases on a 16% volume increase in 2011.