Intrepid Spirits, an Irish-based spirits company, has acquired a majority stake in Australian vermouth company Regal Rogue.
Intrepid - which has offices in Dublin, Shanghai, Chicago and San Francisco - has brands such as Egan's Irish Whiskey, Cocalero and Mad March Hare in its portfolio.
Following the investment, Mark Ward, Regal Rogue's founder, will continue to be heavily involved in the development of the brand, working closely with the marketing team at Intrepid to expand the distribution and presence of Regal Rogue internationally.
"Mark has created a world-class brand and we look forward to bringing the infrastructure and resources required to take Regal Rogue to the next level," said John Ralph, chief executive of Intrepid Spirits.
He said that it was an unusual time for the company to make its first major strategic brand investment.
"We were determined to take an optimistic approach to these tumultuous times.
"It's something that Mark and I have been discussing for months, long before the pandemic, and we felt the long-term strategic value for both parties was just the reason to continue to move forward."
Established in 2011, Regal Rogue is Australia's first native vermouth.
"We've seen tremendous success in Australia, the UK and USA," said Ward.
"And by joining the Intrepid portfolio, we'll be able to dramatically amplify our positioning in the vermouth category."
Regal Rogue has secured some premium accounts already in Ireland, featuring in signature drinks such as Bar 1661's 'Brother Hubbard' and on the Shelbourne Hotel's summer spritz menu.
Regal Rogue Vermouth is available at Waitrose and other select retailers in Ireland and the UK.
Intrepid Spirits was set up in 2013 and its Mad March Hare brand was named the 2019 winner for Best Irish Poitín at The Irish Whiskey Awards.
Sunday Indo Business