It’s always a bit like Christmas morning when the Distilled Spirits Council hosts its annual media and analyst briefing in New York. And the haul of goodies was just as bountiful this year as in past years—well, if you’re like me and you consider a year’s worth of category-specific spirits sales figures “goodies.” Read the rest of this entry
Right on the heels of the Pernod Ricard-Avión announcement, even bigger tequila news comes out of Bacardi. The spirits giant, which has had a minority stake in Patrón for the past decade, will be buying the rest of the company. BTW, the brand’s worth more than Lucasfilm. I know, that’s apropos of nothing, but it’s a pretty big deal in my world when a tequila is bigger than “Star Wars.”
Bacardi Limited announced today that it is expanding its portfolio of premium spirits with a definitive agreement to acquire 100 percent ownership of Patrón Spirits International AG and its Patrón brand, the world’s top-selling ultra-premium tequila. The transaction, which is subject to customary closing conditions, follows the successful relationship the companies have had for nearly a decade since Bacardi’s initial acquisition of a significant minority stake in Patrón in 2008. The transaction reflects an enterprise value for Patrón of US$5.1 billion and is expected to close in the first half of 2018. Read the rest of this entry
Some big news from the tequila world…
Pernod Ricard USA announced that it has completed the acquisition of the remaining stake in Avión Spirits LLC, owner of the ultra-premium tequila brand Avión, from its joint-venture partner Tequila Avión. Founder Ken Austin and president Jenna Fagnan, along with Grammy Award winner Jeezy, will remain highly involved and financially incentivized at least until 2020 to help fuel its next wave of growth. Read the rest of this entry
I wrote this for the latest edition of the American Craft Spirits Association‘s e-newsletter. Thought I’d share it with you, as well.
It’s hard to believe that yet another year is behind us. If 2017 proved anything, it’s that these are indeed exciting times to be in the craft spirits business. And that’s going to be doubly true in 2018. Here’s a look at some of the big spirits trends to keep an eye on in the new year.
It almost seems like Diageo plc has been around forever, given the fact that it owns so many classic, venerable brands, including Johnnie Walker scotch, Smirnoff vodka, Tanqueray gin and Guinness stout. But as a company, it’s still a year away from legal drinking age—in the U.S., at least, not in its U.K. home—as Diageo just turned 20 on Sunday.