Captain Morgan Black Label rum offers a unique depth of taste recalling the navy rum rations which were the choice of swashbuckling adventurers and connoisseurs alike. Its dark, full-bodied colour and distinctive rich, smooth taste are unmistakable. Captain Morgan's Rum is distilled from sugar cane. The combination of the type of yeasts employed for fermentation, distillation method, aging conditions, and blending determines the characteristic flavour of rum. Made with molasses, water, mash and yeast, Captain Morgan Original rum is distilled in a continuous still. Once distilled, the clear spirit is aged in oak barrels for up to a year, adding a golden color and character to the rum before the flavours and spices are added. The brand’s taste is achieved through a proprietary recipe, which is blended into the rum mixture at the final stages of production, making use of spices indigenous to the Caribbean Islands. In 2001, Seagrams sold the "Captain Morgan" brand to Diageo. Diageo made an announcement on 24 June, 2008 that it intends to build and operate a new rum distillery on St. Croix, Virgin Islands beginning in 2010 and to source from it beginning at the end of their current supply contract in 2012.