The Illva Saronno Group has become a 50% partner in the Walsh Whiskey Distillery, a producer of Irish whiskey, the Financial Times reported in an article. The 25 million euro investment made by the Italian company into the Irish whiskey segment represents a marked expansion into the alcoholic beverage sector. “It is growing and there’s little competition, that’s why it is of such great value to us”, stated Illva Saronno CEO Augusto Reina to the financial paper.
The initiative carried out in Ireland is a perfect fit in the diversification strategy of the Brianza, Italy based company, which has already sealed acquisitions of shares in a number of companies throughout the globe. In India, Illva has reached an agreement with Umesh Modi Group for the launch of the Arctic Vodka and Rockford Reserve whisky brands.
Illva Saronno has already been present in China for years with a 33% stake in Yantai Changyu Pioneer Wine, one of the country’s primary producers. The Chinese market has been propitious with earnings increasing from 40 to about 600 million of Europe’s common currency from 2005 to today. The head of the company concluded “it is inevitable that this area of the world becomes the motor of the global economy” in the near future.