By Amelia Ball

Ketel One Vodka, currently distributed in Australia by McWilliam’s Wines, could soon change hands pending the completion of a transaction between Diageo and the Nolet family of Holland.

Diageo and the Nolet family have agreed to form a new joint venture that will own the perpetual exclusive global rights to sell, market and distribute the super-premium vodka.

Diageo has agreed to pay $995 million for its 50 per cent equity interest of the joint venture, to be based in the Netherlands. Under the agreement, Diageo will fully consolidate the financial results of the new company. Profits from the sales, marketing and distribution operations will be shared broadly equally.

“The transaction is strategically important for Diageo,” said Diageo CEO, Paul Walsh. “It brings our superior marketing and distribution expertise together with a truly great brand based on a high quality distillation operation with invaluable knowledge and heritage gained from over 300 years of tradition.”

The Nolet family will continue to own the brand rights for Ketel One. The transaction is expected to be complete by March 31.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

Leave a comment

Your email address will not be published. Required fields are marked *