Heaven Hill, makers of brands like Evan Williams Bourbon, Larceny, Elijah Craig and Burnett’s Vodka has entered into a definitive agreement to acquire Deep Eddy Vodka and its distillery from Eliza Spring, LLC, for an undisclosed amount. A May 2015 Wall Street Journal report that announced Deep Eddy was up for sale estimates the company to be worth between $165 million and more than $300 million.
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Deep Eddy Vodka is one of the fastest-growing brands in the distilled spirits industry. Vodka’s year-over-year growth was recently reported to be down to 1.6% from 6.1% in 2010. Bucking the trend, Technomic reported that Deep Eddy Vodka achieved a triple-digit volume gain in 2014. Since its introduction in 2010 with Deep Eddy Sweet Tea Vodka and Deep Eddy Straight Vodka in 2011, the business has grown to over 500,000 9-liter cases today. Deep Eddy Vodka is propelled by its Austin-bred roots, use of all-natural fruit juices, production process and iconic brand imagery. The brand achieved extraordinary growth beginning in 2013 with the launch of the Deep Eddy Ruby Red Vodka that resulted in over 300% sales growth. In early 2015, Deep Eddy Lemon Vodka was launched and has further led to unprecedented growth for the business.
“This is a milestone day for Heaven Hill Brands as we add Deep Eddy Vodka and their entire team to our dynamic and innovative family,” said Max L. Shapira, President of Heaven Hill Brands. “Deep Eddy Vodka is a star on the rise in the spirits industry and is redefining the premium Vodka market with a quality product and iconic marketing programs. The brand is a perfect fit for our established portfolio of rapidly-growing products.”
Much of Deep Eddy Vodkas’ growth is the result of innovative marketing and sales programs centered on the Deep Eddy Vodkas’ iconic, retro-style rooted in the rich history of Austin, TX. (Apparently, the rich history includes a lot of beautiful young women walking around Austin in bikini’s.) Deep Eddy Vodka will continue to be produced in the Austin area.
“This is an incredible day for Deep Eddy Vodka,” said Eric Dopkins, who will continue as President of Deep Eddy Vodka. “The Deep Eddy team and their distributor partners will remain in place and continue to build on the exceptional momentum of the brand alongside Heaven Hill.”
“Two quintessentially independent, American companies are now together and poised for a tremendous future,” said Chad Auler and Clayton Christopher, co-founders of Deep Eddy Vodka. “For 80 years, Heaven Hill Brands has embodied independence with its heart and soul grounded in a unique and historic set of American Whiskeys. They are stewards of one of the strongest, most diversified product portfolios in the industry and understand the essence of Deep Eddy Vodka.”
Deep Eddy Vodka based in Austin, Texas, was founded in 2010 by two local entrepreneurs with a background in beverage and spirits, Clayton Christopher (creator of Sweet Leaf Tea) and Chad Auler (creator of Savvy Vodka). Deep Eddy Vodka products are distilled in small batches at its Texas distillery. The company’s line of products include: Deep Eddy Straight Vodka, Deep Eddy Sweet Tea Vodka, Deep Eddy Ruby Red, Deep Eddy Cranberry and Deep Eddy Lemon. Deep Eddy Vodka is available in stores in all 50 states.
Founded in 1935, Bardstown, KY-based Heaven Hill Brands is the nation’s largest independent, family-owned and operated spirits producer and marketer and the world’s second-largest holder of Kentucky Bourbon.
