Martinique-based GBH has bought UK spirits distributor Mangrove Global.
The deal, for an undisclosed sum, sees London-based Mangrove joins Spiribam, which coordinates all of the spirits activities at GBH.
John Coe, majority shareholder and co-founder of Mangrove, will leave the business, while Nick Gillett (pictured left), co-founder and current managing director, will remain at the helm.
Gillett will lead the distribution of all GBH rum brands for the UK, the companies said in a statement this morning. Spiribam’s rum brands include Rhum Clément and JM from Martinique; Bounty, Chairman’s Reserve and Admiral Rodney produced in Saint Lucia; and Arcane and Beach House Spiced from Mauritius.
Gillett said: “Under the impetus of a new shareholder, Mangrove will be able to accelerate its development in the UK by relying on a team of passionate employees and a portfolio of leading partner brands.”
Stéphane Hayot (pictured right), managing director of GBH, added:“This new acquisition confirms our desire to intensify our investments and our development in the field of spirits by expanding our portfolio of premium brands, but also by strengthening our distribution structures in strategic markets. The United Kingdom has always been a priority for our brands, which are mainly positioned in the premium and super premium segments.”
Hayot also highlighted the opening of Spiribam UK in 2021.
Speaking about the Mangrove acquisition, he continued: “This operation is perfectly in line with our strategy of developing a powerful international distribution network for our spirits brands and those of our partners, by offering them an amplified quality of service and better visibility. The spirits sector is resolutely a strong area of development for GBH, alongside our retail and automotive activities.”
Mangrove recorded a turnover of £21 million last year.
The deal closed on February 9.