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Bacardi snaps up 42 Below
42 Below looks set to continue its sensational rise to prominence, following Bacardi’s offer to purchase the business for NZ$138m. The Kiwi company looks set to accept the offer, which will secure its position as New Zealand’s first truly global brand.
42 Below is one of the most popular of the new wave of super-premium vodka brands. It will undoubtedly thrive in the Bacardi portfolio, sitting alongside the talisman of the category, Grey Goose. This move makes a bold statement about Bacardi’s plan to dominate this rapidly-rising segment of the drinks trade.
As well as the eponymous vodka, the company also produces South Gin, Stil Vodka, Seven Tiki and Tahiti Dark rums and 420 spring water. It listed on the NZ stock exchange in 2003 for NZ$60m. Bacardi president and ceo, Andreas Gembler commented: “In 42 below we are acquiring exciting, young, premium brands with long term growth potential in the growing category of premium spirits. Bacardi plans to invest heavily in the 42 Below brand portfolio and supporting infrastructure."