Bacardi Ltd. first invested in Stillhouse, which makes whiskey and vodka packaged in stainless steel cans, in 2014. It’s made other investments since then. The acquisition brings Stillhouse fully into Bacardi’s portfolio.
Pete Carr, president, Bacardi North America, will assume control of the brands. Brad Beckerman, Stillhouse founder/CEO, will leave to “pursue other opportunities.”
“We are pleased to have come to a mutual agreement as we have always admired the Stillhouse brand for its innovation, disruption of categories and marketing ingenuity,” Bacardi said in a statement.
“We believe in the brand’s growth potential and are excited to continue the pioneering vision that the founder set for Stillhouse.”
Beckerman added: “I am proud that my vision for Stillhouse will be taken to the next level by industry leader Bacardi.”
The acquisition ends a lawsuit Beckerman brought against Bacardi. no payment, settlement or concession was made by Bacardi or any other party. The acquisition was carried out on the same terms proposed by Bacardi prior to the commencement of the litigation, Bacardi said.