Beam Inc. (BEAM) has agreed to sell a collection of liquor brands to Luxco for about 65 million. The brands include Wolfschmidt vodka, Calvert, Bellows, Dark Eyes vodka, Canada House Canadian, and Tempo Triple Sec.
The company said it generated revenues of about $30 million in 2012 through distribution of the brands in North America.
"Following the premium brand acquisitions we've made in the past two years, this move reduces portfolio complexity in economy vodka and Canadian whisky, and reinforces Beam's focus on developing our Power Brands and Rising Stars, which are our most profitable growth engines," said Matt Shattock, chief executive officer of Beam.
The transaction is expected to be completed by the end of January. As part of the deal, Beam will continue to produce and bottle the brands through at least January 2014. Beam expects the transaction to be neutral to earnings in 2013.
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