Alcohol, Latvia, Legislation, Markets and Companies, Mergers and take-overs

Seymour Ferreira, CEO of Amber Beverage Group said that the acquisition was a significant milestone reflecting the group's determination to become a truly global company. "We are excited by the prospect of establishing a firm foundation in the important Australian and Asian markets and look forward to having Patrick [Borg, Founder and Managing Director of Thinks Spirits] and his exceptional team join us on our journey," commented Ferreira.

Borg expressed his excitement at the prospect of becoming part of Amber Beverage Group and further building upon the successful model he has built in Australia. According to Borg, "This is a big next step for Think Spirits and the team. We are all looking forward to bigger and better things."

Luminor Bank spokeswoman Lita Juberte-Krumina told LETA that the bank has issued a EUR 3.6 million co-financing to Amber Beverage Group to complete the deal.

SPI Group created Amber Beverage Group by bringing together several Baltic companies - Latvijas Balzams, beverage distributors SPI Distribution Latvia, SPI Distribution Estonia and Bennet Distributors in Lithuania, and also the specialized beverage store chains Latvijas Balzams Veikali in Latvia and Darija in Lithuania. Amber Beverage Group was founded and is fully owned by Amber Beverage Group Holding S.ar.l.

Amber Beverage Group exports its products to 170 markets worldwide and owns over 130 brands in total.

Think Spirits was founded in 2004 by Patrick Borg. The company is based in Sydney, Australia and has established itself as one of the leading independent distributors of premium spirit brands through its innovative approach to on-premises and consumer marketing.