Heaven Hill Brands Acquires Deep Eddy Vodka
20 Aug 2015 --- Bardstown, KY./Austin, TX. – Heaven Hill Brands, the nation’s largest independent, family-owned and operated distilled spirits supplier has entered into a definitive agreement to acquire Deep Eddy Vodka, the #1 fastest-growing spirits brand in the US, according to IRI, and its distillery from Eliza Spring, LLC, for an undisclosed amount.
Deep Eddy Vodka is one of the fastest-growing brands in the distilled spirits industry. Since its introduction in 2010 with the original Deep Eddy Sweet Tea Vodka and Deep Eddy Straight Vodka in 2011, the business has grown to over 500,000 cases today. Deep Eddy Vodka is propelled by its Austin-bred roots, use of all-natural fruit juices, production process and iconic brand imagery. The brand achieved extraordinary growth beginning in 2013 with the launch of the Deep Eddy Ruby Red Vodka that resulted in over 300% sales growth. In early 2015, Deep Eddy Lemon Vodka was launched and has further led to unprecedented growth for the business.
“This is a milestone day for Heaven Hill Brands as we add Deep Eddy Vodka and their entire team to our dynamic and innovative family,” said Max L. Shapira, President of Heaven Hill Brands. “Deep Eddy Vodka is a star on the rise in the spirits industry and is redefining the premium Vodka market with a quality product and iconic marketing programs. The brand is a perfect fit for our established portfolio of rapidly-growing products.”
Much of Deep Eddy Vodkas’ growth is the result of innovative marketing and sales programs centered on the Deep Eddy Vodkas’ iconic, retro-style rooted in the rich history of Austin, TX. Deep Eddy Vodka will continue to be produced in the Austin area and the distillery’s Visitor Center is open to the public Friday through Sunday.
“This is an incredible day for Deep Eddy Vodka,” said Eric Dopkins, who will continue as President of Deep Eddy Vodka. “The Deep Eddy team and their distributor partners will remain in place and continue to build on the exceptional momentum of the brand alongside Heaven Hill.”
“Two quintessentially independent, American companies are now together and poised for a tremendous future,” said Chad Auler and Clayton Christopher, co-founders of Deep Eddy Vodka. “For 80 years, Heaven Hill Brands has embodied independence with its heart and soul grounded in a unique and historic set of American Whiskeys. They are stewards of one of the strongest, most diversified product portfolios in the industry and understand the essence of Deep Eddy Vodka. With that foundation, Heaven Hill will deliver Deep Eddy’s mission to be the #1 Super Premium American Vodka in the US.”
Perella Weinberg Partners LLP acted as financial advisor to Heaven Hill Brands and UBS Securities LLC acted as exclusive financial advisor to DE Spirits, LLC and Eliza Spring, LLC with respect to the transaction. Wyatt Tarrant & Combs LLP served as legal counsel to Heaven Hill Brands with respect to the transaction and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Kastner Huggins Reddien Gravelle LLP served as legal counsel to DE Spirits, LLC and Eliza Spring, LLC.
