Thirst for Jack Daniel’s drives up Brown-Forman profit
Third-quarter earnings/share $0.73 vs est $0.70 * Third-quarter sales rise 7 pct to $1.03 billion * Expects full-year earnings/share $2.60-$2.68 vs $2.58-$2.70 earlier * Emerging markets drive growth, share of U.S. market rises * CFO says strong sales trend expected...
Chianti Classico DOCG will have a new classification above Riserva wines called ‘Gran Selezione’
Chianti Classico DOCG will have a new classification above Riserva wines called ‘Gran Selezione’, it has been announced. Gran Selezione is likely to come into force later this year Wines in the new top band within the Chianti Classico DOCG appellation must be produced...
Stolichnaya-owner says in talks on rival vodka maker CEDC
Stolichnaya Vodka-owner SPI Group said on Tuesday it was holding talks with Russian financial interests regarding Poland's indebted Central European Distribution Corp (CEDC.O), one of the world's largest vodka producers. Shares in Nasdaq-listed CEDC have plunged by...
New England’s Horizon Beverage Group reorganizes its senior management team
Horizon Beverage Group is pleased to announce upcoming senior management changes. Effective March 11th, 2013 an Executive Committee will be created to assume all top line managerial responsibilities across the five state New England region. Jim Tsiumis, Senior Vice...
Remy Cointreau denies media reports that Chinese Imports of Remy Martin had been barred due to excessive levels of plasticizers
Remy Cointreau, the French producer of cognac brand Remy Martin, said Sunday that it was preparing the necessary documents for its products to clear Chinese customs, denying earlier media reports which said that customs had barred their entry for containing excessive...
Sidney Frank suing Beam for $100 million over Whiskey contract
The US makers of Jim Beam, Canadian Club and Makers Mark have been sued for $100 million (€76.8m) by an importer that claims Beam Inc and its Cooley Distillery unit broke a contract to supply it with Michael Collins Irish Whiskey. The importer — the New York-based...
Jose Cuervo moving from Diageo to Proximo in North America
Proximo Spirits will take over from Diageo as the US and Canadian distributor of the Jose Cuervo Tequila range. The company, which is owned by the same family as Jose Cuervo, confirmed today (1 March) that it will assume the sales, marketing and distribution mantle...
Vodka producer CEDC warns of bankruptcy
One of the world's biggest vodka producers, Central European Distributors Corp, has launched a last-ditch bond exchange to pare its debt by $750 million, but opposition from its chairman may force it to file for bankruptcy. The company, with headquarters in Mount...
Sources confirm that competition panel clears USL-Diageo deal
In a breather for liquor baron Vijay Mallya, the Competition Commission of India is understood to have given its approval to the Rs 11,167-crore United Spirits-Diageo Plc deal. Official and lawyer sources confirmed that the deal, which needed the fair trade...