Market Watch November 2024

In 2004, Michael Quinttus left the comfort and prestige of his senior vice president job at Kobrand Corp., setting out on his own to form a new wine importer and marketer called Vintus. With so many start-up importers out there and a market awash in wine, it sure looked like a tough climb. But right from the start, it became clear that Vintus was choosing its clients well, carefully building a portfolio of top-flight wines. Its earliest labels included Château Margaux, La Fleur-Pétrus, and Guigal, and it continued from there, with the addition of some prestige California labels along the way. It’s now been 20 years, and Vintus has made its mark on the world of fine wine. Read all about how they did it in our cover profile, which…

Duckhorn’s New Owner…. The Duckhorn Portfolio announced it has agreed to be acquired by Los Angeles-based private equity firm Butterfly for $1.95 billion. According to Impact Databank, Duckhorn is the 20th-largest wine marketer in the U.S. by volume, up 5.5% to 2.6 million cases last year. Its full-year sales, released at the end of last month, showed revenue of $405.5 million for 2024. Publicly listed Duckhorn will become a private company after the closing of the transaction, which is expected this winter. The deal included a customary 45-day “go-shop” period (expiring November 20) through which Duckhorn may solicit, consider and negotiate alternative acquisition proposals from third parties. In 2023, the company’s topseller, Decoy by Duckhorn, grew an estimated 2% to 1.45 million cases in the U.S., according to Impact Databank,…

Gallo’s Apothic wine brand from California played a huge role in the expansion of the red blend category over the past decade, and it continues to rank among the top ten California table wine brands in the U.S. According to Impact Databank, Apothic reached a high-water mark of 4.1 million cases in pandemic-influenced 2020, before receding back to 3.8 million cases last year. Retailing from $11-$13 a 750-ml., the brand remains nearly a half-million cases larger than it was in 2019, and Gallo is now looking to reinvigorate Apothic’s growth with a packaging refresh and new campaign. Carmen Maria Navarro, Gallo’s senior director of brand management, says Apothic’s new look, which features a bold ‘A’ calling out the brand above the varietal, will stand out better on store shelves, allowing…

Las Vegas: Historic And Modern Drinks Culture Collide At Tiki Bar Tiki culture is alive and well in downtown Las Vegas with the opening of Glitter Gulch Tiki in October. The off-strip tiki lounge in Sin City refers to an old nickname for downtown Las Vegas—Glitter Gulch—and boasts both retro and modern elements, including classic tiki cocktails and more modern tropical drinks ($18). New creations include the Luau In Vegas, a blend of Telsón Reposado Tequila, Bols Banana liqueur, Liquid Alchemist falernum syrup, house-made coconut cream, and pineapple and lime juices, topped with a float of Goslings Black Seal rum, and the Makula Retrograde, mixing Tanqueray Seville Orange gin, Liquid Alchemist falernum and orgeat syrups, passion fruit and lychee purées, and lemon juice. These join tiki classics like a Mai…

Balvenie Single Barrel 12-Year-Old Single malt Scotch maker Balvenie, owned by William Grant & Sons, is bringing back its Single Barrel 12-year-old, matured fully in Bourbon barrels. This reprises a 2013 release of Single Barrel, which ended in 2022 due to stock constraints. Now the whisky ($80 a 750-ml.) has returned, with each barrel yielding only 300 bottles, all individually numbered. Bottled at 47.8% abv, Balvenie Single Barrel 12-year-old is available now on a limited basis. For more information, visit Thebalvenie.com. Orphan Barrel Woven Honor Single Malt Scotch Whisky Aged 18 Years Diageo has unveiled the latest release in its Orphan Barrel series. The new whisky, Woven Honor Single Malt Scotch Whisky Aged 18 Years ($185 a 750-ml.), hails from Speyside-based Linkwood Distillery and is aged 18 years in American…

While not traditionally thought of as a bar star, tea has a lot to offer as a cocktail ingredient because of its incredible versatility. It can be served hot or cold and, as a drinks category in itself, tea offers myriad flavor profiles because it comes in so many different styles. There are fruity and floral teas that offer light and refreshing flavors for mixed drinks, and there are also full-bodied teas that boast robust taste profiles capable of standing up to even the strongest spirits. “Tea offers unique flavors, complexity, and balance to both classic and modern cocktails,” says Heather Blanchard, lead bartender at the Virgin Hotels New Orleans, which houses the restaurant Commons Club and the bar The Pool Club. “There are endless options when creating tea cocktails.…