(Bloomberg) -- Sipsmith Ltd., a London gin distillery, has hired advisers at Rothschild & Co. to steer talks with potential bidders as a classic cocktail revival drives sales of the spirit, people familiar with the matter said.
The company may reach an agreement with a buyer by the end of the year, said one of the people, who asked not to be identified because the information is private. Sipsmith, founded in 2009, makes small-batch gins including sloe and lemon drizzle varieties, according to its website.
Gin sales in the U.K. hit a record in 2016, surpassing 1 billion pounds ($1.27 billion) for the first time, according to Britain’s Wine and Spirit Trade Association. The trend has spurred consolidation, with Paris-based Pernod Ricard SA acquiring Monkey 47 and Ungava to add to its Beefeater and Seagram’s gin brands.
A spokesman for Sipsmith declined to comment. A representative for Rothschild didn’t have an immediate comment.