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 internationally." 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.