Eastside Distilling Acquires Azuñia Tequila

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[{"type":"text","content":"PORTLAND, Ore., Sept. 16, 2019 /PRNewswire/ -- Eastside Distilling, Inc. (NASDAQ: EAST) today announced the acquisition of Azuñia Tequila from Intersect Beverage. Azuñia Tequila offers four premium tequila products; Blanco Organic Tequila, Reposado Organic Tequila, Añejo Tequila, and Azuñia Black Tequila. Primarily sold into on-premise locations throughout the western and southeastern United States, Azuñia reported trailing twelve-month sales of $3.5 million (through June 30, 2019), an increase of 37% compared to the same year ago period, on approximately 13,000 cases sold.\nThis acquisition brings substantial product and operational assets to Eastside including over 2,600 on-premise points of distribution, a direct sales team, and a product line well positioned in the rapidly growing above premium and luxury tequila categories. The Azuñia tequila brand provides Eastside Distilling with a second national anchor brand, along with Eastside's Redneck Riviera Whiskey portfolio. The above premium and luxury tequila categories are some of the fastest growing subsets at greater than 10% annually (based on Nielsen case data) with approximately $550 million in U.S. sales on 2.4 million cases sold.\nHandcrafted using 100% pure Weber Blue agave grown in the heart of the Tequila Valley and then roasted in traditional clay hornos, Azuñia's premium tequilas pack authenticity, tradition and depth-of-flavor in the same premium bottle. All of Azuñia's tequilas undergo natural, open-air fermentation and bottling onsite to ensure consistency and field-to-bottle quality. Double-distilled and extracted at 46% ABV, the product ultimately clocks in at 40% ABV following the addition of a pure, on-property water source. Equal parts inspired and painstakingly crafted, Azuñia's award-winning tequilas are ideal straight up or as the base of any number of fine craft cocktails.\nRobert Manfredonia, President of Eastside Distilling, commented, \"The acquisition of the Azuñia portfolio of tequila perfectly aligns with our go forward objectives to leverage and drive our national platform strategy which we believe will significantly expand shareholder value. The above-premium and luxury tequila categories are some of the fastest growing subsegments of the spirits industry, and categories in which our regional and national distribution partners, as well as tier-o...

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