42 Below
In November 2004, James Dale founded Panache as the import company of record for the premium vodka, 42 BELOW. At this time, 42 BELOW was a publicly-traded company but lacked traction in the USA, the most important liquor market in the world. Panache provided the solution by developing a proprietary sales and marketing infrastructure focused on building mass awareness and driving volume. One year later, the brand was in 19 strategically selected states and was outperforming in top tier image accounts. By mid 2005, 42 BELOW was a major player in the business and was being noticed in the U.S. by major suppliers.
Bacardi added 42 BELOW to a list of top threats to Grey Goose. Shortly afterwards, 42 BELOW was formally approached for acquisition. At this stage, Panache was responsible for over 50% of the total annual cases sold globally and was among the key driving factors in the success of the brand. In December 2006, Bacardi purchased 42 BELOW for $91 million (representing a gain on sale of $71 million).