Manufacturer and distributor Wisynco Group paid $2.45 billion for its 30 per cent stake in Ringtail Holdings, the parent company of spirits distributor Select Brands, its latest financials revealed.
The transaction values Ringtail at some $7.5 billion. The latest accounts now disclose the financial details of the deal announced last year. It represented the beverage manufacturer’s further push into alcohol production, rounding out an expanding portfolio of alcoholic beverages. Wisynco aims to capitalise on growing demand for premium spirits and wines in Jamaica and export markets.
The transaction last July gave Wisynco board seats at both Ringtail Holdings and its subsidiary Select Brands, which distributes international wine and spirits brands, including Moët & Chandon, Hennessy, Grey Goose, and Johnnie Walker. Wisynco separately acquired the production assets of Ringtail Bottlers for an undisclosed sum, gaining exclusive manufacturing rights for Stone’s Ginger Wine and a portfolio of liqueurs.
BET ON PREMIUM ALCOHOL
The deal marked a shift for Wisynco, which built its $90-billion market value primarily through non-alcoholic beverages like WATA bottled water, Bigga drinks, and
Coca-Cola bottling operations. Wisynco also distributes the Rum-Bar line-up of rum products and Calico Jack Rum Punch, manufactured by Trade Winds Citrus.
The company spent billions over three years expanding manufacturing capacity by more than 50 per cent at its Lakes Pen complex in St Catherine. It also invested in its own distillery and brewery facilities to produce its Legend portfolio of beers, malts, and stouts.
The Ringtail deal, however, gives access to the production of Stone’s Ginger Wine, a UK brand acquired by Select Brands. Production had previously been split between facilities in the United Kingdom and Jamaica. Select Brands introduced Stone’s Sorrel Ginger Wine in November 2024, the first product innovation under the brand since acquiring it, which CEO David McConnell said performed strongly and is targeted for international expansion.
PROFIT AND REVENUE GROWTH
Wisynco’s alcohol bet comes as the company navigates margin pressures from its expansion investments. For the quarter to December, net profit climbed near 50 per cent to $1.5 billion from $1.0 billion a year earlier. Also, its revenue grew to $16.2 billion from $14.2 billion a year earlier. Over six months, profit also grew to $3.7 billion from $3.1 billion a year earlier.
The company recognised $899.9 million in intangible assets related to the Ringtail acquisition, primarily related to ‘enterprise resource planning costs’ and the $68.8-million valuation of exclusive Stone’s Ginger Wine manufacturing rights. Wisynco also recorded $2.45 billion as its investment in associates, reflecting the 30 per cent Ringtail Holdings stake and its share of net assets.
PROVEN PARTNERSHIP PLAYBOOK
The Ringtail investment follows Wisynco’s established strategy of taking minority stakes in complementary businesses rather than pursuing outright control. The company holds 30 per cent of Tru-Juice maker Trade Winds Citrus, 30 per cent of rum producer Worthy Park Estate, and 30 per cent of snack manufacturer JP Snacks Caribbean.
The partnership aims to leverage Wisynco’s manufacturing scale and distribution reach with Select Brands’ expertise in premium brand marketing and relationships with high-end restaurants and bars. Wisynco will produce Stone’s Ginger Wine and Ringtail’s portfolio, including Irie Moss, Prestige Liqueurs, Bandolero, and Privateer for Jamaica, the Caribbean, and US markets, while Select Brands retains marketing and distribution in Jamaica.
neville.graham@gleanerjm.com
