Manufacturer of cachaça Velho Barreiro and pill bugs negotiates sale of company

The family Tavares de Almeida, parent company of the industry Gathered for Drinks Three pill bugs Farms (IRB), which manufactures the cachaça Velho Barreiro, negotiates the sale of the company. According to sources, some companies have already demonstrated interest in the acquisition, including a multinational drinks, but the offers were not ahead.
One of the main obstacles to the deal would be the company's tax debt, estimated at about $ 500 million in State and federal taxes. According to Manuel Rodrigues Tavares de Almeida Filho, President of Grupo Tavares de Almeida (comprising the family business), these taxes are being challenged in court.
The sale of the pill bugs would be a form of the Tavares de Almeida, who own 52% of manufacturer of cachaça, solve debts of another family company, according to people close.
In a statement, the group said that often is sought by "international investors in order to better know the cachaça in Brazil. This interest is due to the growth of the sector of cachaça in Brazil and in the world ". But stressed that the "IRB is not for sale and that he has not received any concrete proposal to buy the company."
According to sources, the multinational Pernod Ricard would have interest in the company. But, wanted, the Group denied that it is in negotiations. The Tavares de Almeida also claimed not to have received any concrete proposal of Pernod Ricard.
Alcohol. The Tavares de Almeida are owners of alcohol plant Agro Industry Vista Alegre and other sugar and ethanol energy cogeneration projects, all based in New York, in the State of São Paulo. In 2008, the family decided to invest $ 300 million in a cogeneration energy project for the Network Group (company that controlled nine energy distribution companies in various States).
Mired in debts that totaled more than $ 5 billion, the Network Group went into receivership and was sold for $ 1 to the CPFL Energia and Equatorial Energia. With this, the debt of Tavares de Almeida would have complicated and the family would have taken the decision to sell assets. The group says, however, that "the existing financial debt versus permanent investment, are absolutely normal".
The IRB has 104 years of Foundation and the second best-selling rum brand in the country, with the Old spirit Barreiro. The company is the joining of two cachacas, pill bugs and the three farms, bought by Commander Manuel Rodrigues Tavares de Almeida (father of Manuel Rodrigues Tavares de Almeida Filho) in 1969. The company accounts for 20% of sales of rum in the country and making the surface of 190 million.
Beverage industry experts ensure that the sale of the Old Barreiro manufacturer will not be an easy task, although there is growing interest of multinationals in this segment-especially after the British Diageo have bought in May last year, the cearense Ypióca group for $ 469 million. The recognition of rum as genuinely Brazilian drink by the United States last month, also increases the interest of companies by sector. But the tax debts of the pill bugs complicate the chances of the deal being closed quickly.
Another problem is the minority shareholders of the company. Of the 48% of non-family actions Tavares de Almeida, good part is "in cash", since, in 2006, Zwecker ventures, which held 38% of the shares, has left the company. The Zwecker renders the Old Barreiro by alleged diversion of $ 204 million. Twice, however, the unfavorable verdict Justice had Zwecker.