Owner of Jose Cuervo buys US whiskey for $205m

Becle, the owner of Tequila brand Jose Cuervo, has agreed to purchase Canadian whiskey brand Pendleton from the Oregon-based Hood River Distillers for US$205 million.

Pendleton Whisky, previously owned by Hood River Distillers, was launched in 2003 and produces more than 250,000 nine-liter case a year. In addition to its flagship Pendleton Whisky brand, the acquisition also includes the Pendleton Midnight, Pendleton 1910 and Pendleton Directors’ Reserve expressions.

“The Pendleton Whisky brand will fill an important strategic position in our portfolio, as we add a fast-growing, super premium whisky to complement our broad selection of international spirits,” said Mark Teasdale, president and chief executive officer of Proximo Spirits Inc, the United States operating subsidiary of Becle.

“Following the successful acquisitions of Bushmills Irish Whiskey and Stranahan’s Rocky Mountain Single Malt Whiskey, and the rapid growth of Tincup American Whiskey, we view Pendleton as the next step in developing our world-class portfolio of whiskies. We expect to build on the remarkable success of Pendleton using our resources as a full-service, global spirits company.”

Hood River will continue to bottle the Pendleton portfolio and Proximo brands.

“This is a tremendous opportunity for the brand. Proximo has the resources, the market reach and the commitment to turn our dreams for the Pendleton brand into reality,” added Ronald R. Dodge, CEO of Hood River Distillers. “While this represents a major shift for Hood River Distillers, we are extremely proud of our team for growing Pendleton to where it is today and helping us achieve this outstanding accomplishment.”

The transaction is expected to close during the first quarter of 2018, subject to the receipt of regulatory approvals and other customary closing conditions. T