American investor pushes millions into Amsterdam rum trader

American investor The Riverside Company pushed a "significant sum" into Amsterdam company E&A Scheer, one of Europe's largest rum traders. A specific amount was not mentioned, but according to Financieele Dagblad, it involves over 100 million euros.

Scheer was established in 1712. The location in Amsterdam produces blends, according to NU.nl. The ripening takes place in Liverpool. Among other things, the company trades in Batavia Arrack, a sugar cane distillate from Java. Scheer is a market leader in this. In 2017 E&A Scheer was awarded the 'purveyor to the royal household' predicate. This predicate is awarded by the King to companies that have a "very important place in the region" and is at least 100 years old.

"We are delighted that we can add Scheer to our portfolio", The Riverside Company said. "Rum is the fourth most consumed liquor in the world and is also the fastest growing. We want to contribute to the growth of Scheer."

Scheer is happy that it found a partner who respects the history of the company. "During our 300 years of existence we have mostly been a family business", the company said, according to NU.nl.