Brown-Forman acquires Diplomático Rum and presses ahead with expansion strategy

2023-01-11T17:11:00
Spain Portugal International
Cuatrecasas advises Brown-Forman on the acquisition transaction of Diplomático Rum
Brown-Forman acquires Diplomático Rum and presses ahead with expansion strategy
January 11, 2023
Cuatrecasas has advised the US Brown-Forman Corporation on acquiring the companies in the Destillers United Group S.L. that are headquartered in Portugal, Spain and Panama, and produce, market and distribute Diplomático Rum.

For Brown-Forman, the closing of this purchase—after completion of the customary closing conditions in this type of transaction—is an important milestone in the course of the company’s expansion process, which has led the company to taking over some of the major brands operating in its industry in recent months.

With this acquisition, Brown-Forman significantly expands its product portfolio, consolidating the company as a global benchmark in the production and distribution of alcoholic beverages. It has an annual turnover of over $5 billion and assets in excess of $6.5 billion, according to public sources.

The Cuatrecasas team advising on the transaction—together with US law firm Gibson, Dunn & Crutcher LLP—was made up of Corporate and M&A lawyers Javier Martí-Fluxá, Marco Antonio Sanz, Carlota Tojo and María Corzo, with the support of Cuatrecasas Portugal lawyers, João Mattamouros Resende and Pedro Sousa Gonçalves.

January 11, 2023