As the U.S. whiskey industry continue to experience a post-Covid slump, Kirin Holdings has sold the historic Four Roses Distillery to Gallo.
The final sale price was $775 million, according to a release put out by Kirin.
“Since our acquisition of Four Roses in 2002, the business has achieved strong growth, primarily in the U.S. market, and contributed to the growth of Kirin’s enterprise value,” Kirin added in that press release. “Meanwhile, Kirin regularly reviews its balance sheet and business portfolio from a medium to long term perspective. After careful consideration as part of this review, Kirin decided to enter into an agreement to transfer the business to Gallo. This transaction will allow Kirin to reallocate its resources toward businesses that could further grow by leveraging Kirin’s own organizational capabilities, thereby further growth in enterprise value. The specific use of the proceeds from the transaction is currently under consideration and will be promptly disclosed once a decision has been made.”
This follows the recent news from Four Roses of expanding its Small Batch line with the launch of 375-ml. Small Batch and Small Batch Select.
