LUCAS BOLS COMPANY
Acquired by
NOLET GROUP
LUCAS BOLS COMPANY acquired by NOLET GROUP
Context
Nolet Distillery launched a recommended public offer to acquire all issued and outstanding ordinary shares of Lucas Bols Company, marking a significant consolidation within the Dutch spirits industry. This public-to-private transaction was motivated by a shared strategic vision to create a "Dutch champion" in the global cocktails and spirits market. The acquisition allows Lucas Bols to preserve over 450 years of craftsmanship and heritage under the stewardship of a long-term, family-owned strategic ally. By delisting from the public market, Lucas Bols can pivot its growth strategy toward long-term brand fortification and innovation, insulated from the volatility of short-term financial market demands. The deal ensures operational continuity, with Lucas Bols retaining its identity, name, and Amsterdam-based headquarters under its existing leadership team. This merger of two historic distillers—combining Nolet’s global vodka and gin strength with Lucas Bols’ versatile cocktail portfolio—provides a robust foundation for expedited international growth and protects the traditional craftsmanship of the Dutch distilling sector for future generations.
LUCAS BOLS COMPANY, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the AgriFood sector (10.6x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
-> Deep-dive in AgriFood market trends
Target
Established in 1575 in Amsterdam, Lucas Bols Company is one of the world's oldest active Dutch companies and a global leader in the cocktail and spirits market. The company’s extensive portfolio includes renowned brands such as Bols (marketed as "The World's First Cocktail Brand"), Passoã, Galliano, and Tequila Partida. Its business model focuses on the artisanal craftsmanship of liqueurs, genever, gin, and vodka, aiming to create high-quality cocktail experiences worldwide. Lucas Bols maintains deep ties to Amsterdam's heritage and professional mixology culture, operating through a global distribution network that serves bars, restaurants, and retail consumers. The company’s strategy emphasizes brand innovation and maintaining a versatile range of spirits that cater to evolving consumer tastes in the global "home-cocktail" and professional bartending segments.
Ent. Value
LOGIN
Equity Value
LOGIN
Multiples
EV / Revenue
LOGIN
EV / EBITDA
LOGIN
EV / EBIT
LOGIN
Historical Financials (EUR)
Other operations with LUCAS BOLS COMPANY
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 02/2023 | LUCAS BOLS COMPANY | FLUÈRE | NETHERLANDS | Food Processing | Fluère is a pioneering Dutch brand in the non-alcoholic spirits sector, founded in 2018 by entrepreneurs Léon Meijers and Alfred Sandee. The brand specializes in high-quality distilled non-alcoholic spirits designed for the "mindful drinking" movement. Its product range includes five distinct variants: Original, Spiced Cane, Raspberry, Smoked Agave, and Bitter. Fluère's liquids are created using a specialized steam distillation process that extracts essential oils from botanicals, providing a complex and subtle taste profile comparable to traditional alcoholic spirits. At the time of acquisition, the brand had established a presence in over 20 countries, including key markets in Europe and the United States. Its business model focuses on versatility, positioning its products as premium mixers for low-alcohol or alcohol-free cocktails in both professional bartending and "at-home" retail segments. |
| 12/2021 | LUCAS BOLS COMPANY | TEQUILA PARTIDA | UNITED STATES | Food Processing | Tequila Partida is recognized as one of the world’s highest-rated ultra-premium tequila brands. The company produces 100% blue agave tequilas handcrafted in the heart of the Tequila Valley, Mexico. Its product portfolio is divided into two primary ranges: the "La Familia" range (Blanco, Reposado, Añejo, and Extra Añejo) and the "Roble Fino" range, often referred to as the 'single malt of tequila' due to its unique finishing in ex-sherry oak casks. The production process is overseen by a dedicated local team of experts and follows traditional methods, including hand-harvesting agave aged for over five years and double-distillation in small pot stills. Historically distributed by Edrington USA, the brand has built a strong reputation in the "on-trade" sector (bars and restaurants) particularly in the United States and Mexico, positioning itself as a leader in the ultra-premium spirits segment. |
REFERENCES
Valuation range: EV 300M - 700M EUR
Revenue range: 100M - 200M EUR
EBITDA range: 10M - 30M EUR
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of LUCAS BOLS COMPANY by NOLET GROUP are reserved for mynth community members. Register for free to unlock full data.
Authors: mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).
Target: lucas bols company