- Lucas Bols completes Passoã acquisition
Lucas Bols N.V., a leading global cocktail and spirits player (“Lucas Bols”), today announces it has, in line with earlier communications, completed the Passoã acquisition by purchasing the remaining shares in the Passoã SAS joint venture held by Rémy Cointreau. The purchase price of
€ 71.3 million is financed through an acquisition bank facility and cash.

From the incorporation of the joint venture in December 2016, Lucas Bols performed the day-to-day management, ran the brand and hence fully controlled Passoã SAS. Consequently, Passoã SAS’ financials were fully consolidated in Lucas Bols’ financial reporting. This remains unchanged after completion of the transaction. In addition, the liability in connection with the purchase price was carried on Lucas Bols’ balance sheet from incorporation of the joint venture. The payment of the purchase price does therefore not affect the net debt position of Lucas Bols.

Huub van Doorne, CEO Lucas Bols: “We are very pleased with the completion of the transaction and I would like to thank Rémy Cointreau for the pleasant and constructive cooperation during the past four years. In December 2016 we added Passoã, a truly iconic brand, to our portfolio, and we have nurtured the brand from the first day onwards. The brand has performed very well, also in today’s challenging times. The brand successfully drives the Porn Star Martini trend, the number one cocktail in the UK. Also Passoã’s fresh mixed-drink proposition is contributing to the brand’s success in combination with the expansion of distribution. All in all, Passoã fully delivered on its promise and we look forward to further fuelling its success.”