Dear Client: Despite pandemic-related challenges, the US craft spirits market continues to grow. To support that growth, craft distillers have increased investment for expansion in recent years. Total investment by US craft distillers for expansions increased 8.7% from $698 million in 2019 to $759 million in 2020, according to the recent Craft Spirits Data Project, put … Continue reading "US Craft Distillers Up Investments to Meet Consumer Demand"
Dear Client: Today Constellation Brands announced it has entered into a "brand authorization agreement" with The Coca-Cola Company in the US to bring the Fresca brand into the bev alc space "through the manufacturing, marketing, distribution, and launch of Fresca Mixed," a line of spirit-based ready-to-drink cocktails, per a release. "The Coca-Cola Company's Fresca brand is … Continue reading "Constellation Strikes Deal with Coke to Make and Market Fresca Spirits RTDs"
Dear Client: Duckhorn continued its hot streak in Q1-- even up against tough comps-- growing net sales by 13.7% to $104.2 million for the first quarter ended October 31. "We delivered all-time highs in quarterly net sales and adjusted EBITDA," said ceo Alex Ryan on last night's earnings call. "We realized strong double-digit growth on both … Continue reading "Duckhorn Riding High in Q1, Scoops up Three Vineyard Parcels"
Dear Client: Foley Family Wines today announced the acquisition of Kenwood, California-based Chateau St. Jean winery from Treasury Wine Estates. No financial details were disclosed. The purchase includes the 1920s chateau, the 6,000-square-foot visitor center, a 39,000-square-foot wine production facility, 79 planted acres, on-site tasting salons and extensive gardens, per release. The winery's legacy use permit … Continue reading "Foley Family Wines Acquires Chateau St. Jean from TWE"
Dear Client: And the acquisition news just keeps rolling in. The latest: Treasury Wine Estates announced it has reached an agreement to acquire Napa Valley-based Frank Family Vineyards for $315 million. That's an acquisition multiple of 13.2X. The deal is expected to close next month.Frank Family Vineyards was founded in 1992 by Rich Frank. The … Continue reading "TWE to Acquire Napa’s Frank Family Vineyards for $315 Million"
Dear Client: Vintage Wine Estates continues its track of making 2-3 acquisitions per year. Today the company announced the acquisition of California-based Ace Cider for an undisclosed sum. The transaction is expected to close tomorrow. "Ace is an excellent complement to our wine portfolio and its products are distributed through the beer channel which provides a … Continue reading "Vintage Wine Estates Acquires Ace Cider"
Dear Client:Some consolidation this morning in the e-commerce sector. ReserveBar announced this morning that it has agreed to acquire Minibar Delivery. This acquisition "accelerates ReserveBar's expansion of its retailer fulfillment network and planned introduction of on-demand delivery capabilities," per release. Financial details were not disclosed. Minibar was founded in 2014 and has built a retail network of … Continue reading "ReserveBar to Acquire Minibar Delivery"
Dear Client: It's "common wisdom" right now that many of the current supply chain challenges we're facing are a result of the pandemic, but "this crisis began long ago," said Agriculture Transportation Coalition executive director Peter Friedmann during a webinar yesterday hosted by the Distilled Spirits Council. Indeed, "COVID exacerbated some long standing challenges and self-inflicted … Continue reading "Some Supply Chain Challenges Only Exacerbated by COVID"
Dear Client: The Wine Group (TWG) announced today it has entered into a strategic partnership with MPL Brands NV, owner of fast-growing wine-based ready-to-drink brand Rancho La Gloria. TWG will now exclusively represent Rancho La Gloria in the US. Terms of the deal were not disclosed. As part of the agreement, TWG has made a minority … Continue reading "The Wine Group Takes Minority Stake in Rancho La Gloria Owner"
Dear Client: Maryland-based Sagamore Spirit has appointed industry veteran Michael Misiorski as its new ceo, effective September 1, WSD has learned. He has more than three decades of industry experience, previously working at Bacardi, Stoli Group USA, and most recently Edrington. Michael tells WSD the opportunity at Sagamore "seemed like it was ticking all the boxes … Continue reading "Sagamore Spirit Taps Industry Veteran as New CEO"