ANGOSTURA AIMS AT BECOMING A SPIRITS POWERHOUSE

After promising that new alcohol beverage acquisitions were on the horizon, Caribbean producer Angostura and its parent company CL Financial has offered to acquire an almost 50% stake in Lascelles de Mercado for just under $1 billion.

In a statement last week, CL Financial and Angostura Holdings chairman Lawrence Duprey said the venture would facilitate the listing of Angostura on the London Stock Exchange.

“The combination of two major brands with global access through the CL World Brands distribution platform gives the English-speaking Caribbean a major spirits and wine company owned by the people of the Caribbean,” he said.

Lascelles de Mercado is the largest publicly listed Jamaican conglomerate and specializes in spirits, including the Appleton and Wray & Nephew rums.