Nishith Desai Associates: Deal Corner
Posted by By nishithadmin at 16 November, at 16 : 45 PM Print
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Sazerac acquires stake in John Distilleries
DEAL BRIEF
Sazerac Company, Inc., a U.S. headquartered spirits company has acquired a minority stake in John Distilleries, a leading liquor maker in India. The transaction was structured as a secondary sale wherein Sazerac acquired a minority stake in John Distilleries from Gaja Capital.
Founded in 1850, Sazerac is one of the leading spirits manufacturer in the U.S. and owns a portfolio of award-winning brands including Fireball, Southern Comfort, Buffalo Trace Bourbon, Pappy Van Winkle Bourbon and E H Taylor Bourbon. John Distilleries owns one of India’s top selling whiskey brand, Original Choice and is one of the top 10 selling brands of whisky worldwide, with sales exceeding 11 million cases a year.
The transaction marks Sazerac’s entry into the Indian market, one of the largest and fastest growing markets for spirits in the world.
Press coverage relating to this transaction, is available at Live Mint and The Hindu.
OUR ROLE
We, at Nishith Desai Associates, acted as the Indian counsel to Sazerac on this transaction and advised on legal, tax and regulatory aspects of the transaction including the negotiations and deal documentation.
Chambers and Partners: Ranked in Tier 1 for Tax
World Tax (International Tax Review’s Directory): Recommended Tax Firm in India
Legal 500: Ranked in Tier 1 for Investment Funds and International Taxation
Fastest Growing M&A Law Firm in India in 2015: MergerMarket
The Most Innovative Law Firm in Asia-Pacific
