Bacardi Has The Option to Snap Up Remaining Shares in Teeling Irish Whiskey for $32M — But Will it?

Jack (left) and Stephen Teeling raise a glass of Teeling Irish Whiskey. (Photo: Teeling Irish Whiskey)

The Irish Times reported on Monday that Bacardi owns 79% of the shares of Teeling Irish Whiskey and that the remaining shares are available for the major spirits giant to acquire for the price of €29.8 million ($31.9 million).

According to the Irish Times, Bacardi purchased the majority of the company’s shares for €44.8 million ($47.9 million) In 2017, brothers Jack and Steven Teeling sold an initial 40% of the company’s shares of the Irish whiskey brand to Bacardi. Bacardi increased its stake in November 2022 to 79%.

During a valuation of the Irish whiskey brand’s shares, a report claimed that the “remaining associate interest is subject to the terms of a put and call option agreement with the same acquirer.”

Though the brothers declined to comment when the Irish Times asked them to elaborate on who the mysterious “acquirer” was, it seems highly likely that it was Bacardi.

Bacardi found itself in a bit of hot water due to its seemingly lackadaisical stance on continuing business operations with Russia during the Ukraine war. Though other brands like Pernod Ricard faced similar issues, it seems like Bacardi faced the most unfavorable press.

In July, a bombshell report claimed that Bacardi tripled its profits by continuing to do business with Russia, even though the company issued a statement of solidarity with the Ukrainian people and openly condemned Putin’s actions. The company additionally made a $1 million donation to the Red Cross and Mercy Corps.

The company faced major backlash and was even labeled as a “war sponsor,” by the Ukrainian government’s Agency on Corruption Prevention in August.

Though it admittedly has been difficult for spirits suppliers to completely cut business operations with Russia due to financial pressures or the parallel imports system, it appeared Bacardi finally committed to withdrawing business operations from the country this year. In early April, Bacardi announced that it was finally winding down its operations in Russia.

Whether the company intends to fully acquire the Teeling Irish whiskey brand remains unclear.

Join the Whiskey Raiders Bottle of the Month Club, where you will receive hard-to-find bottles curated by Whiskey Raiders staff with a 90+ rating on whiskeyraiders.com plus live virtual tastings. Sign up here!