Edrington purchases WEBB’s interest in Travel Retail joint venture formed in 2015

edrington_logoSaying that it isnow ready to fully integrate” its travel retail  business in the Americas “within its global travel retail structure,” spirits company Edrington will assume full ownership of its joint venture with WEBB, Edrington Webb Travel Retail Americas (EWTRA).

 

WEBB logoEdrington and World Equity Brand Builders (WEBB) have agreed to terms that will see Edrington assume full ownership of the former joint venture, which was launched as a partnership in 2015.

 

EWTRA distributed and marketed Edrington brands The Macallan, Highland Park, The Famous Grouse, Cutty Sark and Brugal rum. The company’s portfolio also featured Disaronno, Tito’s Handmade Vodka, Licor 43, Tia Maria, Luc Belaire and Mionetto, and was further complemented by Sazerac brands: Southern Comfort, Fireball Cinnamon Whisky, Blanton’s and Buffalo Trace. Together, the extensive collection of premium and craft brands has represented one of the most prominent and successful portfolios in the travel retail channel of the Americas.

 

Edrington Americas Juan Gentile, senior vice president for Latin America and Travel Retail, said “The joint venture with WEBB, led by Andy Consuegra as chief executive officer, proved exceptionally successful, delivering high double digit growth.”

 

Gentile added, “Edrington is now ready to fully integrate this business within our global travel retail structure, with full ownership of operations in the Americas. We already directly manage Asia, Europe and the Middle East through wholly owned distribution companies. The EWTRA buy-out is consistent with our strategy to offer a unified global presence in a channel which has seen increased consolidation by key retailers.”

 

“Moving forward, we will continue to focus our efforts in building the equity of our core brands, especially The Macallan. Distribution brand partners will continue to play a pivotal role in maintaining the strength and scale of our presence with duty free operators in the Americas.”

 

WEBB Founder and EWTRA CEO Andy Consuegra said “I’m honored that we had the opportunity to assume such an essential position in further driving the success of Edrington as well as our other brand partners, within Travel Retail in the Americas. We’ve established enduring, highly successful partnerships between our great team, the brand companies, travel retail operators and cruise lines in the Americas. Nearly doubling the business of the joint venture in such a short period of time, I believe, clearly shows the success of these efforts and relationships.”  Consuegra will now focus on his other venture, WEBB Banks.

 

Igor Boyadjian, managing director of Edrington Global Travel Retail commented, “The acquisition of Edrington Webb Travel Retail Americas marks the opening of a new era for Edrington, establishing a fully owned and integrated Global Travel Retail business unit. It’s an exciting new journey and a great stepping stone which will allow us to be more coherent and consistent in our global strategy with key partners and retailers. More importantly, we’re delighted to welcome into our family a great team of people that will add great value and local expertise to our business, as well as an exciting portfolio of distribution brands. Last but not least, I would like to personally thank Andy for his achievements and for building great momentum behind our brands in the Americas over the last few years.”

 

The Edrington WEBB joint venture ends June 1, at which time the business is fully integrated into Edrington and takes over existing distribution contracts. Wine brands, including Cupcake Vineyards, Excelsior, Ramon Bilbao, Luc Belaire and Mionetto distributed through EWTRA, return to WEBB under a new company following the buy-out between the two parties.

 

While June 1st marks the end of the joint venture in the travel retail market, Consuegra will continue to serve as distributor of the Edrington spirits portfolio in the Caribbean domestic market through WEBB Banks, a company recently formed in January, 2017, through the merger of WEBB and Banks Channel of North Carolina.

Travel Markets Insider © 2017