Cruzan Rum Strikes Deal with the VI
Fortune Brands Inc. reached a tentative agreement with the U.S. Virgin Islands to continue making rum on St. Croix in exchange for marketing and other incentives whose value is projected to exceed $1 billion over 30 years.
The deal, spearheaded by Virgin Islands Gov. John P. deJongh Jr., includes a pledge by the government to cover the roughly $100 million cost of both expanding the Cruzan Rum distillery and building a state-of-the-art wastewater-treatment facility.
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