TAMPA, FL – August 4, 2015 – Mast-Jägermeister SE has acquired one-hundred percent (100%) of the stock of Sidney Frank Importing Company, Inc., its former U.S.-based importer. The law firm of GrayRobinson served as Mast-Jägermeister’s alcohol regulatory counsel for the acquisition.
With the closing of the deal on August 3, 2015, Mast-Jägermeister now controls all dimensions of the brand's value chain including 2/3 of its global distribution, as well as all logistics, sales, promotions and marketing in its three biggest markets: the U.S., Germany and UK. This position gives Mast-Jägermeister a more robust presence in these trendsetting markets and bolsters its ability to create brand experiences shaped by market-in-region experts.
"Sidney Frank and its people have been integral to the success of the Jägermeister brand in the U.S. and, as we have previously stated, acquiring the company is the logical next step in our long-term strategy for both the U.S. market and our company," said Michael Volke, Member of the Executive Board of Mast-Jägermeister. "The U.S. is the largest Jägermeister market in the world. Given this lighthouse role for the global spirits industry, we are confident this move will strengthen the future development of our brand in the U.S. and beyond."
Based in New Rochelle, NY, Sidney Frank employs approximately 180 people and has a network of distributors and brokers throughout the U.S. Now a wholly-owned subsidiary of Mast-Jägermeister, the importer will retain and operate under its existing name, "Sidney Frank Importing Company."
Jägermeister has rapidly grown internationally to become a Top 10 best-selling premium spirit brand worldwide. "This success story would have not been possible without strong local partners, such as Sidney Frank, which built Jägermeister in the U.S. market since 1974," continued Volke.
The financial details of the deal will not be disclosed because both companies are privately owned. According to Richard Blau, the chair of GrayRobinson’s Alcohol Industry Team and the lead U.S. regulatory attorney representing Mast-Jägermeister in the transaction, both parties worked diligently to negotiate, structure and close the deal. "Mast-Jägermeister and SFIC have conducted business together for decades," said Blau; "they know each other well, and will use this acquisition as the springboard to take the Jägermeister brand to new heights."
About Mast-Jägermeister SE
Mast-Jägermeister SE is firmly rooted in Wolfenbüttel in the German region of Lower Saxony. The company has produced its globally successful herbal liqueur based on a secret recipe of 56 different herbs, blossoms and roots at this site, for over 80 years. Today, around 900 employees worldwide work for the Wolfenbüttel-based family company. In 2014, Mast-Jägermeister SE sold 87.1 million 0.7-litre bottles in 108 countries across the globe. This consolidates the 8th place awarded to Jägermeister in the global sector-specific Impact ranking of all international premium spirits. For more information please visit: http://newsroom.jaegermeister.de/en