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Bacardi adds to spirits portfolio with acquisition of Banks rum

Published:  08 July, 2015

Bacardi has bought the Banks rum producer and its brands for an undisclosed sum.

Banks is based in Geneva and makes rums from Trinidad, Jamaica, Guyana, Barbados, Panama, Guatemala and Java to make its core Banks 5-Island mark, Banks 7 Golden Age Blend and limited editions.

The company was founded in 2008 by Arnaud de Trabuc, a former chief executive officer of Angostura and president of Cognac producer Thomas Hine.

Banks is sold principally in top-end on-trade accounts in the UK and has annual sales of just 6,000 cases globally. The US, Germany, France, Japan and Russia are among it s other main markets.

The rum is named after the 18th-century British explorer and botanist Sir Joseph Banks.

Bacardi bought the Bourbon brand Angel's Envy and a stake in the UK-based blended whisky producer Compass Box in April.