Moet Hennessy, the wine and spirits division of the French luxury group Moët Hennessy Louis Vuitton (LVMH), has shifted the production of its 10 Cane rum brand from Trinidad & Tobago (T&T) to Barbados.
The move to blend and bottle 10 Cane rum brand at Foursquare Rum Distillery in Barbados was welcomed by the Barbados government and is expected to add $50m in foreign exchange to the Barbados economy.
Foursquare Rum Distillery chairman Sir David Seale said the agreement had been signed with Moet and Hennessy of France to distill, blend and bottle the new brand of rum for the next five years.
"This is very exciting because this brand having been established world-wide, it has a track record so we are not starting from zero," Seale added.
"We are starting from a point that it is a guarantee amount that we can produce... Our sums will say that it is quite possible that we will earn in excess of $100 million in foreign exchange over the next five years."
First distilled, blended, bottled and launched in T&T in 2005, the rum is made from sugarcane juice. The brand is named 10 Cane because it takes around ten sugarcane sticks to make one bottle of rum.
