Global spirits company buys NZ RTD brand
AUCKLAND: Jack Daniel’s maker BrownForman says it has reached an agreement to buy, for an undisclosed price, the New Zealand liquor company Part Time Rangers, which donates 10% of its profits to wildlife preservation projects.
Part Time Rangers, which makes spiritbased readytodrinks (RTDs), was founded by brothers Oliver and William Deane in their kitchen in 2018.
Oliver Deane has previously credited his time in Dunedin — where he graduated from the University of Otago with a bachelor of commerce in marketing and a bachelor of arts in geography in 2017 — for the birth of the company.
Details of the transaction, which is subject to approvals, were confidential.
‘‘The acquisition of Part Time
Rangers is a targeted investment for us and will help us grow in a key category in
New Zealand and, in the future, Australia,’’ BrownForman president and chief executive Lawson Whiting said in a statement.
‘‘Along with our Jack Daniel’s Tennessee Whiskey and RTDs, we believe we will have greater diversity in the RTD category.’’
BrownForman saw the acquisition as an opportunity to broaden and strengthen its existing RTD portfolio footprint in New Zealand, Australia and potentially beyond.
Part Time Rangers offers six RTD products: Lime Vodka, Passionfruit Apple Vodka, Apple Lime Rum, Strawberry Raspberry Gin, Ginger Lime Whiskey and Apple Lemon Gin.
The company says it supports local and global wildlife and ecosystem preservation initiatives.
The Deane brothers will remain with Part Time Rangers and the mission to support wildlife conservation and environmental preservation projects will continue, the company said.
‘‘Our growth since then has exceeded our wildest dreams, and the sale of the business to BrownForman will now allow our mission to grow,’’ the brothers said in a statement.
‘‘The decision to sell was not easy and one that we only took after assuring ourselves that BrownForman would be a strong custodian for the Part Time Rangers brand and community.
‘‘This process took many months including visiting BrownForman in Kentucky to be sure that they understood, valued and supported the mission and direction of Part Time Rangers.’’
Recent donations include $20,000 to the Rhinos Without Borders project in Botswana, according to its website.
The company also funded 10 Big Life Foundation rangers for two months protecting bigtusk elephants in Africa.
Part Time Rangers was advised by Toby Groser at Montarne Partners and Scott Moran at Duncan Cotterill.
Details of the transaction were scarce but Groser told the Herald: ‘‘It’s an incredible story of two young guys having an idea and getting up the guts to do it. It’s a real success story for young people outside the field of tech.’’
New York Stock Exchangelisted BrownForman is a 150yearold global spirits company based in Kentucky.
Alongside Jack Daniel’s, the company has the Finlandia, Woodford Reserve and el Jimador brands in its portfolio. — The New Zealand Herald