The Last Drop Distillers Limited announced its acquisition by Sazerac—one of the world’s top selling global spirits brands, and one of New Orleans’ oldest family-owned, privately-held companies.
The investment that will be injected into the craft spirits brand through the acquisition will accelerate its ambitious growth plans whilst also allowing the existing Last Drop Distillers team to continue to run the business autonomously, with the small, personal operation remaining intact.
The Sazerac Company portfolio includes a range of global spirits brands: this acquisition will allow the company to extend its portfolio into the super-premium, craft market as well as expand its European footprint.
The Last Drop Distillers is a family-run company dedicated to discovering and bottling some of the most exclusive spirits in the world. Spirits pioneers James Espey and Tom Jago founded the company in 2008 after long and successful careers in the industry. Between them they created some of the world’s best-loved spirits brands, including Johnnie Walker Blue Label, Chivas Regal 18 Year Old, The Classic Malts, and, with Malibu and Baileys Irish Cream, two of the most original and successful new drinks categories in the world. Today, the company is run by their two daughters, Beanie Espey and Rebecca Jago.
The Last Drop Distillers story is now at an important stage. Having established its brand and business model, the company is looking towards accelerated growth as global demand for luxury goods continues to rise. This was recently acknowledged by the appointment of the former CEO of Morrison Bowmore Distillers, Mike Keiller, as a Board Director.
Mark Brown, president and CEO of The Sazerac Company said: “We are very excited to be partnering with such industry legends as Tom and James. Equally, we are looking forward to working alongside their daughters Rebecca and Beanie as well as the rest of The Last Drop Distillers team in bringing some of the rarest spirits available to the global consumer market. As a family owned company we fully appreciate the value of a small, engaged and passionate team in a venture such as The Last Drop Distillers and look forward to continuing the excellent progress the business has made since its inception.”
James Espey, Co-Founder and Chairman of The Last Drop Distillers said: “This acquisition marks the next stage of The Last Drop Distillers story that will see us take the brand into the next phase, while retaining and building on our core values of exclusivity, craft and excellence. The existing team of passionate and experienced spirits pioneers will continue to steer the direction of the brand, while the investment allows us to grow our international footprint and broaden our opportunities to search for the rarest spirits in the world.”