The Sazerac Co has recently purchased of a stake in India spirits producer John Distilleries. The US-headquartered alcoholic beverages company has acquired the holding for an undisclosed sum from Gaja Capital, which will continue to remain partially invested in the company. This move marks Sazerac's entry into the Indian market.
Sazerac's initial stake is 28 per cent with a two-year road map to buy an additional 15 per cent from the investor. The 57 per cent majority is held by John Distilleries' chairman & MD, Paul John.
Sazerac's technological expertise, coupled with a global portfolio of brands spread across all spirit categories, can add an advantage for JDPL both in domestic and in global markets.
In its full-year fiscal-2017, John Distilleries registered pre-tax sales of $429.7m, with volumes totaling around 13 million cases. The purchase marks a raft of acquisitions for Sazerac as the firm continues to increase its global presence.