Sazerac Company, Inc. Announces the Acquisition of W.L. Weller and Old Charter Bourbon Brands

Feb 24, 1999, 00:00 ET from Sazerac Company, Inc.

    NEW ORLEANS, Feb. 24 /PRNewswire/ -- The Sazerac Company Inc., New
 Orleans, La., along with Heaven Hill Distilleries, Inc., Bardstown, Ky. and
 David Sherman Co., St. Louis Mo., have announced today a definitive agreement
 to purchase selected brands, related inventory and a plant facility from
 United Distillers & Vintners (UDV); a subsidiary of Diageo PLC (NYSE:   DEO),
 London for $171 million.
     The Sazerac Company's portions of the purchase are the W.L. Weller and Old
 Charter bourbon brands.
     Rodney Nourse, Director of Corporate Development for the Sazerac Company
 commented: "Sazerac is delighted to be able to add two such high quality
 brands as W.L. Weller and Old Charter to our portfolio of fine bourbon
 whiskies, which currently includes Blanton's Single Barrel and Ancient Age.
 We believe very strongly in the global opportunity for bourbon, as well as
 being excited about the renewed interest in bourbon among U.S. consumers.  The
 addition of W.L. Weller and Old Charter to the portfolio will now allow us to
 offer a broad spectrum of top quality bourbons both domestically and
     The Sazerac Company is a diversified producer and marketer of fine wines
 and spirits, with operations in New Orleans, Louisiana; Frankfort, Kentucky;
 and Loomis, California.
     As part of the announced purchase, David Sherman Corp. is acquiring Arrow
 Cordials, the fourth largest-selling cordial line in the U.S., as well as
 Rebel Yell Bourbon and related inventories.
     Heaven Hill Distilleries is buying Christian Brothers Brandies and dessert
 wines, and related inventories; Old Fitzgerald Bourbon, and related
 inventories; as well as the Bernheim production facility located in
 Louisville, Ky.

SOURCE Sazerac Company, Inc.