Dear Client: Cuervo kicked off its fiscal year with solid improvement in the US & Canada, but that growth was offset by declines in Mexico and the rest of the world. Cuervo’s total volumes were down 4.4% and net sales were down 6.5% for the first quarter ended March 31. A NEW CFO. Before we … Continue reading “Tequila, RTDs Drive Improvement for Cuervo’s Q1 US Results”
News surfaced earlier this week that Warren Buffett’s McLane Beverage Distribution (parent company is Berkshire Hathaway) applied for a license to import and distribute wine in Virginia. After looking around in other states, WSD learned that McLane has also secured a temporary manufacturers/distributors license from Florida’s Division of Alcoholic Beverages and Tobacco.
Pernod Ricard reported an “encouraging start of the year” in the Americas for the first quarter ended September 30. Sales were “stable” in the US as Pernod
It appears that Warren Buffett’s McLane Beverage Distribution is looking to enter the wine business in Virginia. You’ll recall McLane (parent company is Berkshire Hathaway) shook up the industry in March when it acquired Kahn Ventures, parent company of Empire Distributing, in Georgia and North Carolina.
Many new contributions rolled in to the anti-privatization campaign backed by the beer industry last week. Three beer distributorships in Ohio each donated $5,000 to “Protect Our Communities,” while an additional $5,000 came from an Ohio branch of the UFCW.
Virginia Gov Bob McDonnell is likely going to need support from beer and wine distributors in the state if his privatization plan has a chance of passing the General Assembly. But right now they are creating “a formidable obstacle” to McDonnell’s plan….
Rumors swirled in London today that Diageo might get its chance to acquire the remaining 66% stake in Moet Hennessy. Yes, we are revisiting that old story. The gossip is that LVMH is considering acquiring Hermes (the owner of the famous Birkin bags), and would get the funds to do so by selling MH to Diageo….
In the first 9 months of 2010, total champagne volumes grew 20% for LVMH Moet Hennessy. The company said champagne’s performance in the third quarter “reflected the good return of consumer demand,” while Hennessy cognac “continued to perform well.”
Vanity Fair has published a detailed, fascinating account of the Bronfman sisters’ alleged involvement with a so-called cult, resulting in a loss of roughly $150 million over the past 6 years. The article sums up how the heiresses to the Seagram fortune, Sara and Clara Bronfman, became involved with nxivm (pronounced Nexxium) and its founder Keith Raniere.
On Thursday Diageo will report its Q1 results for Fiscal 2011. In a note to investors, Credit Suisse†s Anthony Bucalo said he expects ‽good news on organic profit†largely due to ‽the promotional environment in the US easing†and ‽strong growth trends†in the Asia Pacific/International region.
When looking at the top 20 brands in food and drug stores, it’s clear that most had a solid summer. Those brands that posted the most growth typically resorted to discounting – but not all. And not all benefitted from discounting either. So here’s our survey of the top 20 brands in food and drug stores over the summer (12 weeks ended September 5), based on SymphonyIRI scan data.
Activist investor William Ackman has confirmed he purchased a 10.9% stake (or 16,668,636 shares of common stock) in Fortune Brands on behalf of Pershing Square, and said he plans to discuss the future of the business with Fortune’s board and management. Ackman is now the company’s biggest shareholder.
Donations are still going hot and heavy in Washington State. The Washington Beer and Wine Wholesalers Association donated another $700,000 to “Protect Our Communities,” which opposes privatization in general and I-1100 specifically.
…which makes him the biggest shareholder. CNBC first reported after the opening bell that Pershing Square, the hedge fund run by William Ackman, has taken an 11% stake in Fortune Brands.
Like Constellation chief Rob Sands noted yesterday, life is good for the wine business in food and drug stores. In August dollar sales grew 5.2% and volumes gained 4.7%, based on SymphonyIRI scan data in the four-weeks ended September 5. Yes, growth is largely sturdy across the board, but often at the expense of pricing.
Second quarter results ended August 31 were “particularly gratifying,” said Constellation chief Rob Sands, as the company starts to “reap the rewards” of their work for the past 2 years – namely their new consolidated distributor network.
