Italian company acquires majority stake in Sagamore Spirit, will move NA HQ to Baltimore

Sagamore Spirit, the Baltimore-based rye whiskey brand and distillery, had a majority stake acquired by Illva Saronno Holding S.P.A., an Italian multinational company.

As part of the deal, Saronno Holding will also move its North American headquarters to the Baltimore Peninsula in South Baltimore.

Sagamore Spirit is part of Sagamore Ventures, a privately held investment company founded by Under Armour Executive Chairman and Brand Chief Kevin Plank. Sagamore Spirit, which was founded in 2013 along with minority owner Bill McDermond, has earned more than 200 international awards including the World’s Best Rye Whiskey in 2019 at the San Francisco World Spirits Competition.

“We are thrilled to announce this transaction, which supports our portfolio strategy to acquire high growth, attractive margin brands, and in this case, broaden our offering into the premium American whiskey segment,” Aldino Marzorati, CEO of Illva Saronno Holding S.P.A., said in a news release “We have built a strong presence with Disaronno International LLC in the US market, and this opportunity allows us to strengthen our portfolio with a company and products that we fully believe in.”

Sagamore Spirit prides itself on developing and building in-state partnerships including local grain and water sourcing, state-of-the-art distilling and aging all done in Maryland.

“Growing Sagamore Spirit has been an incredibly rewarding experience with a team that has obsessed every detail across this holistically Maryland grain-to-glass whiskey business,” Plank said. “I want to thank Illva Saronno Holding for their team’s passion in understanding the specialness of our unique product and look forward to the outstanding horsepower they can add into its next chapter.”

The deal strengthens Illva Saronno Holding’s presence in the United States. The company is best known for the Italian liqueur Disaronno and The Busker Irish whiskey. The acquisition of Sagamore Spirit expands the company’s whiskey portfolio into American rye whiskey.

“I’m also very excited that Illva Saronno Holding loves our Baltimore Peninsula location so much that they’ve decided to relocate their North American headquarters to Maryland,” Plank said. “As a beacon of entrepreneurial power and potential, Baltimore Peninsula represents a once-in-a-generation opportunity to be a foundational partner in creating a brighter future for one of America’s best cities.”

Illva Saronno Holding said it plans to maintain Sagamore Spirit’s strong Maryland-based connections.

“As we look to expand Sagamore Spirit to new markets, we believe that relocating our North American headquarters will allow us to maintain the strong Maryland-based connection and invest in the local community that has empowered this brand to thrive,” said Robert Cullins, executive vice president of Disaronno International LLC.