Heaven Hill Brands Closes Black Velvet Acquisition
Black Velvet, named for its velvety smooth taste, fills an important gap in Heaven Hill’s broad distilled spirits portfolio by substantially expanding sales activities in the Imported Whisky category and fits perfectly with its portfolio of high volume, quality brands like Evan Williams Bourbon, Burnett’s Vodka, Deep Eddy Vodka, Admiral Nelson’s Rums, and Christian Brothers Brandies.BARDSTOWN, Ky. – Today, Heaven Hill Brands, the nation’s largest independent, family-owned and operated distilled spirits supplier completed the acquisition of Black Velvet Canadian Whisky, the second-largest selling Canadian whisky in the world, and the historic Black Velvet Distilling facility in Lethbridge, Canada, from Constellation Brands Inc.
“Today we are proud to officially welcome this iconic brand and others into Heaven Hill’s historic portfolio,” said Max L. Shapira, President of Heaven Hill Brands. “The Heaven Hill family is proud to continue the culture of Black Velvet and nurture the unique heritage of this great Canadian Whisky that has built a solid foundation for growth.
Perella Weinberg Partners LP acted as exclusive financial advisor to Heaven Hill Brands with respect to the transaction. The historic Black Velvet Distilling facility is one of the eight traditional Canadian distilleries in operation. The acquisition includes all the distilling operations, aging and bottling facilities and the remaining portfolio of Canadian Whisky brands owned by Constellation, which includes Black Velvet, MacNaughton, McMasters, and the international business of the Schenley brands – Golden Wedding and OFC. Canadian Whisky made up 7.3% of total distilled spirits volume in 2018 according to Beverage Information Group, the largest segment of all total Imported Whiskey. The Canadian Whisky category is approximately 16.8 million cases, with Black Velvet volume representing almost two million cases in the U.S. in 2018.
ABOUT HEAVEN HILL BRANDS: Founded in 1935, Bardstown, KY -based Heaven Hill Brands (www.heavenhill.com) is the nation’s largest independent, family-owned and operated spirits producer and marketer and the world’s second-largest holder of Kentucky Bourbon. Heaven Hill’s diversified portfolio of brands includes Evan Williams, Elijah Craig, Larceny, and Henry McKenna Bourbons; Rittenhouse Rye Whisky; Deep Eddy and Burnett’s Vodkas; Admiral Nelson’s and Blackheart Rums; Black Velvet Canadian Whisky; Lunazul Tequila; The Christian Brothers Brandies; HPNOTIQ Liqueur; Carolans Irish Cream Liqueur; PAMA Pomegranate Liqueur; Domaine de Canton Ginger Liqueur.