Sazerac said the investment that will be injected into the craft spirits brand through the acquisition will accelerate its ‘ambitious’ growth plans while also allowing the existing Last Drop Distillers board team to continue to run the business autonomously.
James Espey, co-founder and chairman of The Last Drop Distillers, said: “This acquisition marks the next stage of The Last Drop Distillers story that will see us take the brand to the next level while retaining and building our core values of exclusivity, craft and excellence.
“The existing team of passionate and experienced spirits pioneers will continue to steer the direction of the brand, while the investment allows us to grow our international footprint and widen our opportunities to search for the rarest spirits in the world.”
Mark Brown, president and CEO of the Sazerac Company, added: “We are very excited to be partnering with such industry legends as Tom and James. Equally, we are looking forward to working alongside their daughters Rebecca and Beanie as well as the rest of The Last Drop Distillers team in bringing some of the rarest spirits available to the global consumer market.
“As a family owned company we fully appreciate the value of a small, engaged and passionate team in a venture such as The Last Drop Distillers and look forward to continuing the excellent progress the business has made since its inception.”
The Last Drop collection currently includes: VI The Last Drop 50 Year Old Double Matured whisky, V The Last Drop 1967 Glen Garioch single malt, IV The Last Drop 48 Year Old blended scotch whisky, III The Last Drop 50 Year Old blended scotch whisky, II The Last Drop 1950 cognac, and I The Last Drop 1960 blended scotch whisky.