The spirits group completes its acquisition of Irish whiskey producer Teeling, expanding its portfolio amid a 5% drop in export sales last year.
Bacardi has acquired full ownership of Teeling Whiskey Company, an Ireland-based distiller, after gradually increasing its stake since 2017. Financial details of the transaction were not disclosed, but the move consolidates Bacardi’s position in the Irish whiskey market, which saw export sales decline 5% last year due to challenging conditions, particularly in the U.S.
Teeling, founded in 2012, operates Dublin’s first new distillery in 125 years and exports to over 80 markets. Bacardi initially took a minority stake in 2017 before securing majority control in 2022. The Teeling brothers, founders of the brand, will remain as strategic advisors, Bacardi said.
The acquisition aligns with Bacardi’s long-term growth strategy for Irish whiskey, a category CEO Mahesh Madhavan described as having significant global potential. The deal follows Bacardi’s recent leadership changes, including the appointment of Vijay Subramaniam as president of its European operations.