Nolet Group has agreed to acquire Lucas Bols for around €270m with all operations to remain in Amsterdam.

Notel, the original founder of Ketel One Vodka, will now own the Lucas Bols portfolio which includes Bols, Passoã and Galliano.

The Dutch company has been a shareholder of Lucas Bols since 2015, and the latter will now be run under a separate company within the Nolet Group. Lucas Bols CEO Huub van Doorne and chief financial officer Frank Cocx will remain in place.

“Since 2006, when we brought back Lucas Bols to Amsterdam, we have been on a journey to grow the company and its brands in the international cocktail markets,” said van Doorne.

“Nolet as a partner is the right next step to continue this journey and accelerate long-term growth. Together we create a Dutch champion in the global spirits and cocktail market with a strong portfolio of brands, the right focus and strengthened brand investments.

“The Lucas Bols team and passionate, entrepreneurial culture have been pivotal in our success over the past 17 years and can flourish within the new partnership.”

Carel Nolet, chair of Nolet Group, added: “By combining forces, we are jointly continuing our rich history and thereby preserving valuable heritage under one Dutch flag for the long term. Nolet and Lucas Bols complement each other well in terms of markets, brands, innovation and marketing.”