This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-38344235

The article has changed 3 times. There is an RSS feed of changes available.

Version 0 Version 1
Gin distiller Sipsmith bought by Beam Suntory Gin distiller Sipsmith bought by Beam Suntory
(about 1 hour later)
Japanese spirits conglomerate Beam Suntory is to buy the London craft gin brewer Sipsmith.Japanese spirits conglomerate Beam Suntory is to buy the London craft gin brewer Sipsmith.
Beam - which also owns the Jim Beam and Maker's Mark bourbon brands - will pay an undisclosed sum for the company as it aims to cash in on the rising demand for artisan spirits.Beam - which also owns the Jim Beam and Maker's Mark bourbon brands - will pay an undisclosed sum for the company as it aims to cash in on the rising demand for artisan spirits.
Sipsmith is one of hundreds of craft distillers to have set up in the UK in recent years.Sipsmith is one of hundreds of craft distillers to have set up in the UK in recent years.
It said it would work with Beam to boost its exports.It said it would work with Beam to boost its exports.
"We have found the perfect partners to take Sipsmith to all four corners of the globe, and do so whilst retaining our quality gin, astonishing team and Chiswick distillery in London," said co-founder Sam Galsworthy. Sam Galsworthy, a Sipsmith co-founder, said the firm would continue to control its brand and operate out of its Chiswick distillery.
"Nothing's going to change about the way we make it, but they are going to take us internationally in a way that we haven't been able to achieve so far," he told the BBC.
"They have given us reassurances they don't want to jeopardise this brand we have built," he added.
Started in 2009, Sipsmith claims to have pioneered a resurgence in gin brewing in London, which was historically an international centre for producing the spirit.Started in 2009, Sipsmith claims to have pioneered a resurgence in gin brewing in London, which was historically an international centre for producing the spirit.
The firm says it founded the city's first copper distillery for nearly two hundred years, "on a mission to bring back London Dry Gin to the city where it made its name". The firm says it founded the city's first copper distillery for nearly 200 years, and all of its spirits are made by hand and in small batches.
All of the company's spirits are made by hand and in small batches, and include varieties such as London Dry Gin, Sloe Gin and V.J.O.P (Very Junipery Over Proof) Gin. These include varieties such as London Dry Gin, Sloe Gin and V.J.O.P (Very Junipery Over Proof) Gin.
Beam, which is the third largest spirits company in the world, is the latest company to try to cash in on the rising demand for craft spirits and beer.Beam, which is the third largest spirits company in the world, is the latest company to try to cash in on the rising demand for craft spirits and beer.
Growing market
Under the deal, it aims to sell Sipsmith in markets around the world alongside its other brands, which include Yamazaki whisky, Laphroaig Scotch and Courvoisier cognac.Under the deal, it aims to sell Sipsmith in markets around the world alongside its other brands, which include Yamazaki whisky, Laphroaig Scotch and Courvoisier cognac.
This would include markets where Sipsmith is already sold - such as North America, pockets of Europe and Asia - as well as new ones such as South and Central America.
More than two-thirds of Sipsmith's sales are currently within the UK.More than two-thirds of Sipsmith's sales are currently within the UK.
Beam said Sipsmith would continue to be run from London by its founders.
Sales of gin have grown in recent years, surpassing £1bn in the UK for the first time in 2016, according to the Wine and Spirit Trade Association.Sales of gin have grown in recent years, surpassing £1bn in the UK for the first time in 2016, according to the Wine and Spirit Trade Association.
Experts say the rise of craft distilleries has helped to fuel the trend, with their emphasis on local ingredients and artisan techniques.Experts say the rise of craft distilleries has helped to fuel the trend, with their emphasis on local ingredients and artisan techniques.
This has attracted a younger demographic to the spirit, which has long been been favoured by the over-40s, according to analysts. Growing market
This has attracted a younger demographic to the spirit, which has long been been favoured by the over-40s.
"Eight years ago I couldn't get a distributor, so I had to distribute Sipsmith around London on the back of my scooter," Mr Galsworthy said.
"Gin suffered a reputational problem - one's grandparents drank it and vodka was much more popular - but that's changed."
He also said he was not concerned a sale to a major conglomerate would harm the the brand's credibility,
"We don't think people will knee-jerk about this - we made a lot of sacrifices, quit our jobs, sold our flats to make this happen.
"And importantly we are not going to change the quality of the gin a single jot."