The Venezuelan rum brand is the number one super- and ultra-premium rum and number two super-premium plus rum brand worldwide according to the IWSR.

“Diplomático Rum will join our expanding portfolio, giving Brown-Forman a market leading entry into the fast-growing super-premium rum category,” said Lawson Whiting, president and chief executive of Brown-Forman Corporation.

“This aged rum brand has distinctive packaging, strong brand positioning, and is a delicious tasting spirit. As part of this acquisition, we will welcome more than 100 new employees to Brown-Forman.”

The rum brand family consists of three ranges The Traditional Range, The Prestige Range and The Distillery Collection. The brand is sold in more than 100 international markets.

“We are proud to have pioneered and been instrumental in developing the super-premium plus rum category around the world,” said Destillers United Group S.L., current owner of the Diplomático Rum brand in a statement.

“Diplomático Rum is ready to accelerate its growth with Brown-Forman, one of the world’s most well-known spirits and wines companies. We share a similar familial culture and know the brand will continue building on our legacy. We look forward to working together to bring Diplomático Rum to consumers around the world.”

The transaction is subject to customary closing conditions and is expected to close within 90 days.