Blavod Wines & Spirits plc Acquires Blackwood's, Diva and Jago Brands
Blavod Wines & Spirits plc (AIM:BES), the AIM quoted owner of premium drinks brands is pleased to announce that it has acquired the Blackwood's, Jago's and Diva brands.
Blavod acquired licences to distribute these brands in May, July and October 2008 respectively from the vendor, the administrator of Shetland Spirit Company Limited (in Administration).
The terms of the Diva and Jago's brands' licences provided for four year licence terms, now expired, and following which Blavod has acquired the brands for £1 each from the vendor.
The terms of the Blackwood's licence provided for a profit share with the vendor from the third year post acquisition through to the end of the seventh year and also gave Blavod the option to acquire the intellectual property rights at certain pre-specified dates for £1. The Company has reached agreement with the vendor for an early exercise of the option for the early acquisition of Blackwood's Gin and Vodka for a cash consideration of £50,000. In the latest period for which audited financial information is available, the year ended 31 March 2012, the Blackwood's licence was responsible for £358k of sales net of duty and £102k of contribution.
Blackwood's produces both gin and vodka.
Blackwood's Vintage Dry Gin is made with Shetland botanicals hand gathered during spring and summer months; these include sea pink, marsh marigold, angelica and meadow sweet which are then combined with juniper, coriander and other botanicals to give Blackwood's vintage dry gin a unique and complex flavour. Each Vintage is slightly different as every year the harvest varies depending on the weather.
Also produced is a 60% ABV limited edition version, which is inspired by the North line of latitude of Shetland, the production of this is limited to reflect the population of Shetland.
Blackwood's Nordic Vodka is currently three times distilled and cold filtered.
Blackwood's Vintage Dry Gin is sold in a number of UK retail multiples including Sainsbury's and Tesco.
Diva Vodka is a super-premium, wheat-based vodka that is three times distilled for a smoother flavour. Enclosed in the bottle is a sparkling wand hand filled with 73 Swarovski elements, which can be removed and used as a garnish. Diva is available in 17 export markets.
Jago's Vodka Cream liqueur was created by Tom Jago, who was involved in the creation of the world's best selling cream liqueurs and one of the top twenty global drink brands of all time. Jago's Vanilla Vodka Cream Liqueur is made with three times distilled vodka, madagascan vanilla and 100% natural cream to give a flavour and mouth feel like no other cream on the market.
Commenting today, Don Goulding, Executive Chairman of Blavod said:
"We continue to focus on shareholder value through the development of owned brands of which Blackwood's is our number one profit contributor. The acquisition of this brand together with Diva and Jago's provides us with the platform and incentive to accelerate further growth of these brands in the UK and internationally."