Beam Suntory, the world’s third-largest spirits company, has swallowed London based gin maker Sipsmith. Sipsmith, established in 2009 and the London’s first copper-pot distillery to open in nearly two centuries, had successfully managed to ride the booming craft spirits wave. The hand made varieties include London Dry Gin, Sloe Gin and V.J.O.P (Very Junipery Over Proof) Gin.
The sales price for the 7 year old start-up company, which is one of hundreds of craft distillers to have set up in the UK in recent years, is reported to be £50 million ($62m).
Beam Suntory has a wide portfolio of spirits including Jim Beam and Maker's Mark bourbon, Teacher’s and Yamazaki whisky, Laphroaig Scotch and Courvoisier cognac.
The three founders of Sipsmith, Sam Galsworthy, Fairfax Hal and Jared Brown will stay onboard to help manage the international expansion of the brand. “We have worked tirelessly to share our gin of the highest quality with discerning sippers,” said Galsworthy. “In this new chapter, we have found the perfect partners to take Sipsmith to all four corners of the globe.”