Spirits suppliers Innovatus Drinks and Babco have agreed to merge to create an alcoholic drinks sector “powerhouse”.
The combined company offers a broader range in its premium portfolio, bringing together Horse Guards Gin, Barentsz Gin, Pedrino Spritz and Wing Walker Rum (Innovatus) and Neptune Rum and Tofka toffee vodka (Babco).
It will operate under a new name, Babco International, and the combination would allow Babco and Innovatus to react faster to evolving consumer habits and preferences, according to a statement announcing the deal.
Innovatus Drinks brings “expertise in crafting high-quality spirits”, while Babco offers “scale, distribution networks and operational efficiency”, the statement added.
Combined annual revenues at the new group are projected to exceed £4m in its first year.
The leadership team will include senior executives from both Innovatus and Babco.
Lewis Bowen of Babco will serve as the CEO of the combined company. “This merger represents a significant step forward for both companies,” he said.
“Together, we’re uniquely positioned to redefine the drinks landscape, delivering products that resonate with consumers while championing sustainability.”
Mark Crowther, a well-known drinks industry figure, will take on the role of non-executive chairman. “By joining forces, we’re combining Babco’s scale and operational excellence with Innovatus’s creativity and premium brand expertise,” Crowther added.
“This partnership will unlock significant opportunities for growth and innovation. We are excited to look at further brand acquisition opportunities to build upon the success of the Babco platform.”
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