January 17, 2012 - Beam Inc. a leading global premium spirits company, completed the acquisition of Cooley Distillery, the award-winning Irish whiskey producer.
The acquisition includes the Kilbeggan, Connemara, Tyrconnell and Greenore brands, as well as aging inventory and Cooley's malt and grain distilleries in Dundalk and Kilbeggan, Ireland.
Cooley is one of only three sources for Irish whiskey and was the category's only remaining independent producer. The purchase price was approximately $95 million on a debt-free basis. Beam expects the acquisition to be earnings neutral in 2012 reflecting substantial initial brand investment, and increasingly accretive in future years.
This take over gives Beam access to the fast-growing Irish Whiskey Category and an opportunity to expand the award-winning brands in U.S. and other Key Markets for Irish Whiskey