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MBG sells its shares in joint venture Proof Drinks Ltd.

MBG is selling its shares in the London joint venture “Proof Drinks” to a British large-scale investor via JPJ (UK) Ltd.

 

“We were able to learn a lot from each other over the past few years. The investor’s offer has come at just the right time for us”, says Andreas W. Herb, CEO of MBG Holding GmbH. In future, MBG would like to concentrate on the development of other companies in the group, such as Scavi & Ray SRL from Italy on the British market. MBG’s profits from the partnership will be reinvested in the expansion of the UK business.

 

German brand hotbed MBG held a 40 per cent share in the London joint venture since the end of 2014. Since 2010, Proof Drinks Ltd. has specialised in the import, distribution, sales and marketing of premium beverages – especially spirits – in Great Britain. Its portfolio includes not only 3rd party brands, but also the company’s own popular tequila brand Cazcabel. Proof Drinks had also marketed the MBG brands Scavi & Ray, Salitos and Goldberg in Great Britain since 2015.

 

“We are very grateful to MBG for the partnership over the past few years. Both partners can take a lot of positives away from the cooperation. After growing stronger together, we at Proof Drinks will now focus more closely on our own brands, including Cazcabel Tequila”, said James McDermott, CEO at Proof Drinks Ltd.

 

MBG will continue to sell all its familiar brands in Great Britain, as well as marketing Cazcabel in Germany until further notice. The award winning Cazcabel range includes the Blanco Silver Edition, a classic tequila, as well as the Honey Tequila and Coffee Tequila variants. The range was extended in 2016 to include Cazcabel Reposado, a fine old tequila matured in oak barrels.


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