Spirit company to run its own operations with wholly-owned subsidiary
THE parent company of herbal liqueur Jägermeister is expanding its presence in the UK with the launch of a new subsidiary company.
The new business, named CTJM, will assume responsibility for distributing the brand in the UK. Initially, it has been established as a ‘daughter company’ of the brand’s current UK distributor, Cellar Trends, and will be transferred to Mast-Jägermeister SE once it is fully established.
Cellar Trends has distributed Jägermeister in the UK for 13 years, and around 50 of the company’s staff, who currently work on the brand, will transfer to the new company.
The UK is said to be the third-largest market for Jägermeister, with sales of around six million bottles a year.
“We created the new subsidiary to ensure that there is a seamless continuity of service as we enter the busiest period of the year,” said Cellar Trends joint managing director Martin Watts.
“This way we can also ensure that when the business transfers to the brand owner, it will be a fully operational business.”
Mast-Jägermeister SE has announced that Guy Lawrence, former European managing director of Russian Standard vodka, will take the reins of the new firm after it is transferred from Cellar Trends.
“The decision to establish a fully owned distribution company would not be possible without the outstanding success and capabilities of our partner Cellar Trends in building consumer relevance and a substantial business for Jägermeister,” said Michael Volke, a member of the executive board at Mast-Jägermeister.
“The UK has become the third-largest and one of the most dynamic Jägermeister markets in the world.
“The British spirits market also often sets the trend for the category elsewhere, so managing the development of the brand here has become of major importance to us.”