US Based Spirit Maker Sazerac Acquires Stake in John Distilleries

US based spirit maker Sazerac has completed its two-part acquisition of a significant minority stake in John Distilleries Pvt Ltd (JDPL).

Sazerac has acquired 20% stake that private equity investor Gaja Capital still held at a valuation of 1,000 crore, reported ET.

Gaja Capital founder and managing partner Gopal Jain confirmed the development but declined to disclose details.

Sazerac acquired a 23% stake in John Distilleries from Gaja Capital in October last year, marking its entry into India. Paul John, chairman and managing director at John Distilleries, holds the remaining 57% stake.

Gaja Capital, which invested about 75 crore in John Distilleries in 2011-2013, has made a fivefold return through the exit, added the media report.

Sazerac is the second-largest family-owned spirits company in the US. The group owns brands like Buffalo Trace Bourbon, EH Taylor Bourbon, Fireball, Pappy Van Winkle Bourbon and Southern Comfort.