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Sazerac Company

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Sazerac Company, Inc.
Company typePrivate
IndustryAlcoholic beverages
Founded1850 (1850)
FounderThomas H. Handy
HeadquartersMetairie, Louisiana, United States
Key people
William Goldring, Chairman[1][2]
ProductsSpirits
Websitewww.sazerac.com

Sazerac Company, Inc. is a privately held American alcoholic beverage company headquartered in Metairie in the metropolitan area of New Orleans, Louisiana, but with its principal office in Louisville, Kentucky.[3] The company is owned by billionaire William Goldring and his family. As of 2017, it operated nine distilleries, had 2,000 employees, and operated in 112 countries. It is one of the two largest spirits companies in the United States, with annual revenue of about $1 billion made from selling about 300 beverage brands.[4][5][6]

History

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The company was founded in 1869 after the purchase by Thomas H. Handy of the Sazerac Coffee House, a bar and importer of a brand of cognac named Sazerac de Forge.[3] The coffee house itself had been established in 1850.[5] After its purchase, Handy's company began to acquire and market more brands of liquor. According to the company, the Sazerac Coffee House had been named after a cocktail called the Sazerac that was created in the mid-1800s by the immigrant Antoine Amédée Peychaud, who operated a pharmacy on Royal Street in the French Quarter of New Orleans in 1838.[3] The company publishes a Sazerac recipe and produces a Peychaud's Bitters named after Peychaud, which is an ingredient in the traditional Sazerac cocktail.[7][8]

William Goldring began buying shares of the company in 1984, and eventually purchased the entire company.[5]

In 2007, it was announced that they were changing the name Monsieur Henri to Gemini Spirits and Wine; it is headquartered in Loomis, California.[9]

In 2009, the company's principal office was moved to Louisville, Kentucky, reflecting an increased company focus on bourbon whiskey production. However, the Sazerac Company still maintains an active presence in the New Orleans area, and it also has operations in Carson[3] and Loomis,[9] California; Baltimore, Maryland; Chicago, Illinois;[10] Bardstown,[11] Frankfort,[12] and Owensboro, Kentucky;[11] Fredericksburg, Virginia;[13] Montreal, Quebec, Canada;[14] Lewiston, Maine;[15] Londonderry, New Hampshire; Newport, Tennessee;[16] and Segonzac, France.[17]

In 2014, Sazerac announced the creation the Bond & Royal Company, located in Chicago, Illinois, to take over the specialty and craft segment of its brands from the Gemini Spirits and Wine portfolio including Dimmi, an Italian liqueur,[18] and the Casa San Matias, manufacturer of Corazón tequila.[19]

In 2016, the company had an estimated revenue of $1 billion per year and a market valuation estimate of $4.5 billion.[5] The valuation placed Goldring in the Bloomberg Billionaires Index with an estimated net worth of $3.9 billion.[5]

Acquisitions & partnerships

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In 1989, Sazerac acquired several brands from Seagram. The Benchmark (bourbon) eventually changing its name from "Benchmark" to McAfee's Benchmark, Eagle Rare (Kentucky straight bourbon), Nikolai (vodka), Dr. McGillicuddy's, (liqueur) and Fireball Whisky, which was rebranded as Fireball Cinnamon Whisky in 2007.[20]

In 1992, Sazerac acquired the George T. Stagg Distillery in Frankfort, Kentucky, at which time the company's primary focus became the production of bourbon whiskey, a product that is primarily distilled, aged, and bottled in Kentucky, later changing its name to the Buffalo Trace Distillery in 1999.[12]

In 1994, Sazerac acquired Monsieur Henri, a wine and specialty spirits company.[citation needed]

In 1999, Sazerac acquired the W.L. Weller bourbon brands.[21]

In 2002, Sazerac entered an agreement with the Van Winkle family to produce its Pappy Van Winkle's Family Reserve and Old Rip Van Winkle bourbon and rye whisky brands at its Buffalo Trace Distillery.[22]

In 2003, Sazerac acquired the A. Smith Bowman Distillery, located in Fredericksburg, Virginia. Virginia Gentleman, a bourbon whiskey, is distilled there.[13]

In March 2009, Sazerac completed its acquisition of Constellation Brands value-priced spirit assets. The purchase included Very Old Barton and several other bourbon brands, a distillery in Bardstown, Kentucky, and a bottling and warehousing facility in Owensboro, Kentucky.[23] In June 2009, Sazerac acquired The Old Taylor Bourbon label and barrel inventory from Beam Global Spirits & Wine, now known as Suntory Global Spirits[24]

In June 2009, Sazerac sold Effen Vodka to Fortune Brands. After a restructuring of Fortune Brands and an acquisition by Suntory, Effen has since become a Beam Suntory brand.[25]

In September 2011, Sazerac entered into an agreement with Corby Distilleries Limited, to purchase 17 Corby owned brands as part of the agreement made with the other brands acquired from Corby Distilleries Limited.[26] The deal also included shares of Corby's manufacturing and bottling facilities in Montreal, Quebec, Canada and Quebec, Canada.[14] The distillery was eventually renamed as the Old Montreal Distillery.[27]

In October 2011, Sazerac acquired 32 brands from White Rock Distillery, most notably Ryan's Irish cream liqueur.[28][29]

In May 2012, Sazerac acquired several more brands from White Rock Distillery including Tenure England vodka.[30]

In October 2012, Sazerac acquired Gran Gala, a liqueur brand, from Stock Spirits.[31]

In October 2013, Sazerac bought a distillery, including land and equipment in Lewiston, Maine, from Beam Inc. (now known as Beam Suntory).[15] By 2017, the name of the distillery was changed to Boston Brands of Maine. The Mr. Boston premium spirits line of Brandies is distilled there.[32]

In 2014, Sazerac entered into a licensing and distribution agreement with The Wine Group, to market its Big House Bourbon, Concannon Irish Whiskey, and Piedra Azul Tequila.[33]

In October 2015, Sazerac acquired Michael Collins, an Irish whiskey from the Sidney Frank Importing Company.[34] Also in 2015, Sazerac added Van Gogh Imports, changing its name to 375 Park Avenue Spirits, as an independent, but fully integrated, division in its portfolio.[35] The company also entered an agreement with La Martiniquaise to be the US distributor of its Saint-Vivant Armagnac brand, produced in France.[36]

In 2016, Sazerac entered into an agreement with ArcusGruppen to be the US distributor of its Lysholm Linie, Aalborg Taffel, and Aalborg Jubilaeums Aquavit brands produced in Norway.[37]

In March 2016, Sazerac completed the purchase of the Southern Comfort and Tuaca brands from Brown-Forman, Inc.[38] That same month, Sazerac acquired Hi-Spirits to take over the distribution of its products in the UK.[39]

On May 31, 2016, Sazerac entered a long-term Canadian national distribution agreement with Charton Hobbs, Inc. a wine and spirits company.[40]

In May 2016, Sazerac announced that had finalized a deal with Pernod Ricard's Irish Distillers to acquire its Paddy Whiskey brand.[41]

In September 2016, Sazerac acquired The Last Drop Distillers, an independent bottler of Scotch whiskey,[42] and Australian spirit maker South Trade International.[43]

In October 2016, Sazerac acquired Frïs Vodka from Pernod Ricard.[44]

In December 2016, Sazerac announced its acquisition of The Popcorn Sutton Distillery in Newport, Tennessee.[16]

In December 2016, Sazerac announced that had acquired Domaine Breuil de Segonzac Cognac, including property located near the town of Segonzac, France, near Cognac.[17]

On March 3, 2017, it was announced that Sazerac entered a joint venture with Bittermens.[45]

In June 2017, it was announced that Sazerac had entered agreement with Dictador to be the US distributor of its Rum products through its 375 Spirits division.[46]

In October 2017, it was announced that Sazerac entered an agreement with John Distilleries Private Limited (JDPL) the manufacturer of Paul John Whisky to enter the India market.[47]

In November 2018, Sazerac announced it would acquire 19 spirits brands from Diageo Plc, including John Begg blended Scotch, Seagram’s V.O. Canadian whisky, Myers’s rum, Parrot Bay rum liqueur, Romana Sambuca, Popov vodka, Yukon Jack whisky liqueur, Goldschläger cinnamon liqueur, Peligroso tequila, Grind liqueur and Booth’s gin.[48][49]

In June 2020, the company announced it would acquire Early Times and Canadian Mist,[50] including the latter's distillery in Ontario, from Brown-Forman. The acquisition included the barrel aging stocks related to the different brands as well.[51]

In March 2024, Sazerac announced plans to acquire BuzzBallz, a ready-to-drink cocktail brand.[52] The acquisition was complete in May 2024.[53]

Distilleries

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Brands

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Sazerac beverage brands include:[54]

Bourbon whiskey: 1792 Ridgemont Reserve, Ancient Age, Blanton's, Bowman Brothers, Buffalo Trace, E.H. Taylor, Eagle Rare, Elmer T. Lee, George T. Stagg, Hancock's President's Reserve, Kentucky Gentleman, Kentucky Tavern, McAfee's Benchmark, O.F.C. Vintages, Old Charter, Old Rip Van Winkle, Old Taylor, Pappy Van Winkle's Family Reserve, Rock Hill Farms, Very Old Barton, Virginia Gentleman, W. L. Weller

Kentucky whiskey: Early Times

Rye whiskey: Sazerac Rye

Blended whiskey: Barton Premium Blend, Mister Sam, Old Thompson, Ten High, Traveller

Canadian whisky: Canadian Mist, Caribou Crossing, Legacy, Rich & Rare, Seagram's V.O., The Northern Lights

Indian whisky: Paul John

Irish whiskey: Michael Collins, Paddy

Scotch whisky: John Begg

Bitter: Bittermens, Merchants Exchange, Peychaud's

Brandy: Paul Masson

Cognac: Sazerac de Forge

Gin: Booth's, Miles', Tinkerman's

Liqueur: Buffalo Trace Distillery Bourbon Cream, Caravella, di Amore, Dimmi, Dr. McGillicuddy's, Firewater, Fireball Cinnamon Whisky, Goldschläger, Gran Gala, Grind, Herbsaint, Praline, Romana Sambuca, Ryan's Irish Style Cream, Southern Comfort, Tuaca, Yukon Jack, 99 Brand

Mezcal: Los Vecinos

Rum: Black Magic, Cane Run, Jung & Wulff, Myers's, Parrot Bay

Tequila: Corazón, Margaritaville, Monte Alban, Peligroso

Vodka: Fleischmann's, Frïs, HDW Clix, Nikolai, Platinum 10X, Popov, Rain, Saltworks Property, Tenure England, Wheatley

Other: Mr. Boston premium spirits

See also

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References

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  1. ^ Clancy DuBos, New Orleanian of the Year Bill Goldring Archived April 1, 2012, at the Wayback Machine, Gambit Weekly: Best of New Orleans, January 6, 2004. (Access date December 6, 2010.)
  2. ^ Forman, Jay, Lifting a Glass – Bill Goldring: Recipient of the 2012 Ella Brennan Lifetime Achievement Award Archived May 10, 2012, at the Wayback Machine, New Orleans Magazine, May 2012.
  3. ^ a b c d "The Sazerac Company | Our Story". Sazerac. Retrieved July 23, 2021.
  4. ^ "Bourbon Dynasty" (PDF). Freeman – The alumni magazine of the A.B. Freeman School of Business at Tulane University. Summer 2017. p. 8. Retrieved April 17, 2018.
  5. ^ a b c d e Coffey, Brendan (December 16, 2016). "Cheap-Liquor Billionaire Looks Abroad as Sales Slow". Bloomberg. Retrieved April 17, 2018.
  6. ^ "New Orleans liquor billionaire looks abroad as US market slows". Greater Baton Rouge Business Report. December 16, 2016. Retrieved April 17, 2018.
  7. ^ "New Orleans Declares Sazerac Its Cocktail of Choice". npr. June 26, 2008.
  8. ^ "The Sazerac – Official Cocktail of New Orleans: How the Sazerac Cocktail Came to Be". The Sazerac Company official website. Retrieved December 6, 2010.
  9. ^ a b "A New Star In The Spirits & Wine Industry – Monsieur Henri becomes Gemini Spirits & Wine Company". June 3, 2007. Retrieved April 11, 2018.[permanent dead link]
  10. ^ "Definition of Mezcal". Retrieved April 14, 2018.
  11. ^ a b "Sazerac buys Kentucky bourbon brands, distillery". March 26, 2009. Retrieved April 11, 2018.
  12. ^ a b "Bourbon Company, Bourbon Man Buffalo Trace Distillery & Mark Brown". Archived from the original on January 20, 2008. Retrieved April 14, 2018.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  13. ^ a b "Virginia Gentleman Small Batch Bourbon Review". June 9, 2014. Retrieved April 11, 2018.
  14. ^ a b "Corby Distilleries sells Montreal plant, 17 brands to Sazerac for $32.9-million". September 27, 2011. Retrieved April 12, 2018.
  15. ^ a b "Lewiston liquor bottling facility sold to Sazerac, jobs saved". October 17, 2013. Archived from the original on April 14, 2018. Retrieved April 12, 2014.
  16. ^ a b "Sazerac Expanding into Tennessee Whiskey with Distillery Purchase". December 22, 2016. Retrieved April 11, 2018.
  17. ^ a b "Sazerac Purchases Domaine Breuil de Segonzac Cognac". December 23, 2016. Retrieved April 11, 2018.
  18. ^ "Review: Dimmi Liquore di Milano". May 10, 2012. Archived from the original on April 15, 2018. Retrieved April 14, 2018.
  19. ^ "Sazerac creates dedicated craft spirits division". The Spirits Business. September 11, 2014. Retrieved April 14, 2018.
  20. ^ "Seagram to Sell Rights to 17 Brands". The New York Times. March 29, 1989. Retrieved April 14, 2018.
  21. ^ Emen, Jake (March 14, 2016). "Vintage Whiskey: Getting Hold of the Really, Really Old Stuff". The Whiskey Wash. Retrieved April 16, 2018.
  22. ^ "Liquor Of Legend: The Distillery Behind Buffalo Trace Bourbon, Blanton's--And Pappy Van Winkle". Forbes. July 30, 2014. Retrieved April 16, 2018.
  23. ^ Lawrence, Keith (January 13, 2009), "Constellation Spirits sold in Sazerac deal" (PDF), Messenger-Inquirer, archived from the original (PDF) on March 20, 2009
  24. ^ "Beam Global Spirits & Wine Acquires Effen Vodka" (Press release). Business Wire. June 23, 2009. Retrieved April 11, 2018.
  25. ^ "Effen vodka to get profile boost with Fortune Brands as owner". April 14, 2018. Archived from the original on September 18, 2010.
  26. ^ "Sazerac Acquires McGuinness Silk Tassel Canadian Whisky". September 28, 2011. Archived from the original on April 14, 2018. Retrieved April 16, 2018.
  27. ^ "Sazerac returns Canadian whisky distilling to Montreal". The Spirits Business. March 1, 2017. Retrieved April 13, 2018.
  28. ^ "Sazerac Buys 32 Brands Of White Rock Distilleries". September 5, 2011. Archived from the original on September 25, 2020. Retrieved April 14, 2018.
  29. ^ Clouser, Stephanie (September 1, 2011). "Sazerac to purchase number of brands". bizjournals.com. Retrieved July 8, 2024.
  30. ^ "Sazerac buys more spirit brands from White Rock". The Spirits Business. May 18, 2012. Retrieved April 13, 2018.
  31. ^ "Stock Spirits sells Gran Gala brand to Sazerac". The Spirits Business. October 22, 2012. Retrieved April 13, 2018.
  32. ^ "Sazerac plans US$1 million expansion at Lewiston plant". The Spirits Business. December 9, 2017. Retrieved April 12, 2018.
  33. ^ "Sazerac is to begin distribution of Big House Bourbon, Concannon Irish Whiskey and Piedra Azul Tequila following a licensing agreement with The Wine Group". The Spirits Business. February 24, 2014. Retrieved April 13, 2018.
  34. ^ "Sazerac acquires Michael Collins Irish whiskey". The Spirits Business. October 2015. Retrieved April 13, 2018.
  35. ^ "Van Gogh Imports Joins Sazerac Co., Changes Name To 375 Park Avenue Spirits". January 27, 2015. Retrieved April 16, 2018.
  36. ^ "Sazerac to expand Saint-Vivant Armagnac in US". The Spirits Business. December 9, 2015. Retrieved April 13, 2018.
  37. ^ "Sazerac Partners with Arcus Gruppen for U.S. Imports". December 22, 2016. Retrieved April 15, 2018.
  38. ^ "Brown-Forman finalises Southern Comfort sale". The Spirits Business. March 2, 2016. Retrieved April 11, 2018.
  39. ^ "Sazerac Ceo Confirms Hi-Spirits Acquisition". The Spirits Business. October 19, 2016. Retrieved April 11, 2018.
  40. ^ "Sazerac signs Canada-wide distribution agreement". May 31, 2016. Retrieved April 15, 2018.
  41. ^ "Irish Distillers finalizes Paddy sale to Sazerac". The Spirits Business. May 17, 2016. Retrieved April 11, 2018.
  42. ^ "The Sazerac Company has acquired The Last Drop Distillers Limited, a British family-run spirits bottler, for an undisclosed sum". September 6, 2016. Retrieved April 12, 2018.
  43. ^ "Sazerac acquires South Trade International". The Spirits Business. September 16, 2016. Retrieved April 11, 2018.
  44. ^ "Sazerac buys Frïs Vodka from Pernod". The Spirits Business. October 3, 2016. Retrieved April 14, 2018.
  45. ^ "Sazerac buys stake in cocktail bitters company". The Spirits Business. March 6, 2017. Retrieved June 23, 2018.
  46. ^ "Dictador Rum Appoints 375 Park Avenue Spirits as U.S. Importer". June 28, 2017. Retrieved April 15, 2018.
  47. ^ "The Sazerac Company Invests in John Distilleries". October 20, 2017. Retrieved April 11, 2018.
  48. ^ "Diageo sells portfolio of brands to Sazerac". November 12, 2018. Retrieved February 14, 2019.
  49. ^ "Diageo to sell 19 brands to U.S.-based Sazerac for $550 million". Reuters. November 12, 2018. Retrieved February 14, 2019.[dead link]
  50. ^ Carruthers, Nicola (August 4, 2020). "Brown-Forman completes sale of Canadian Mist to Sazerac". The Spirits Business. Retrieved July 8, 2024.
  51. ^ "Brown-Forman sells Early Times and Canadian Mist to Sazerac". June 10, 2020. Retrieved July 11, 2020.
  52. ^ "Fireball maker Sazerac acquires RTD cocktail brand BuzzBallz". Food Dive. Retrieved July 8, 2024.
  53. ^ Thomas, Louis (May 2, 2024). "Sazerac completes BuzzBallz acquistion". The Drinks Business. Retrieved July 8, 2024.
  54. ^ "Sazerac Brands". www.sazerac.com. Retrieved November 4, 2023.
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