Plans to Create Synergies with Leading Spirits Brands
NORWALK, Conn., June 16 /PRNewswire-FirstCall/ -- Diageo (NYSE: DEO), the world's leading spirits, beer and wine company is pleased to announce that it will increase its investment of Stirrings, LLC, makers of Stirrings(R), a premium cocktail mixer portfolio to 100 percent. In 2007, Diageo made a 20 percent minority investment in Stirrings.
"This is a great opportunity to further grow the Stirrings brand and create more synergies with Diageo's array of leading spirits brands," said Larry Schwartz, President of Diageo USA. "As people entertain more at home, they are looking for an easy way to serve bar-quality cocktails and Stirrings fits squarely within our at-home strategy."
As a result of the acquisition, the marketing of the Stirrings brands will be integrated into Diageo and the Stirrings brands will join all Diageo brands in its distributor houses across the country. Steve Rust, Senior Vice President of Reserve Brands, will oversee sales for all Stirrings products for Diageo. Bob Swartz will stay on as CEO of Stirrings, overseeing the commercial business and liquid development, which will remain in Fall River, MA. He will be joined by Larry Freedman, who will continue to be responsible for innovation, operations and quality for the Stirrings line.
Stirrings was established in 1997 by entrepreneurs Gil Maclean and Bill Creelman, both of whom will remain as consultants to the Stirrings business.
"When we started Stirrings 12 years ago, our focus was on giving people a great cocktail experience. That's why we always use the freshest, highest quality ingredients," said Maclean.
Creelman added, "We are extremely pleased that our relationship with Diageo has gone to the next level. Diageo shares our vision around quality and will be able to bring the Stirrings line to more people around the world."
The Stirrings portfolio consists of over 50 products such as premium mixers (Mojito, Cosmopolitan, Margarita, Pomegranate Martini), Rimmer(R) brand cocktail garnishes (Margarita Salt, Pomegranate, Cosmopolitan), and classic bar ingredients (Dirty Martini, Grenadine, Blood Orange, Bitters).
Diageo (Dee-AH-Gee-O) is the world's leading premium drinks business with an outstanding collection of beverage alcohol brands across spirits, wines, and beer categories. These brands include Johnnie Walker, Guinness, Smirnoff, J&B, Baileys, Cuervo, Tanqueray, Captain Morgan, Crown Royal, Beaulieu Vineyard and Sterling Vineyards wines.
Diageo is a global company, trading in more than 180 countries around the world. The company is listed on both the New York Stock Exchange (DEO) and the London Stock Exchange (DGE). For more information about Diageo, its people, brands, and performance, visit us at Diageo.com. For our global resource that promotes responsible drinking through the sharing of best practice tools, information and initiatives, visit DRINKiQ.com.
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About Stirrings, LLC
Established in Nantucket in 1997, Stirrings is an innovative cocktail company redefining the way people enjoy cocktails. Believing that better ingredients are the only way to achieve a better tasting cocktail, Stirrings uses the finest real fruit juice, triple purified water and cane sugar to create a diverse collection of super-premium Cocktail Mixers, Rimmer(R) brand cocktail garnishes and Classic Bar Ingredients. www.stirrings.com.