Indholdsfortegnelse for May 15, 2022 i Shanken's Impact Newsletter

HEAVEN HILL BRANDS HAS ANnounced plans to build a new distillery in Bardstown, Kentucky, on a $135 million investment. Expected to open by 2024, initial production is slated for 10 million proof gallons a year, or 150,000 barrels, with capacity to ramp up to producing 30 million proof gallons, or 450,000 barrels. The new distillery will sit on a 61-acre site at 1015 Old Bloomfield Pike, off KY 245. It marks the company’s return to distilling in Bardstown following a 1996 fire when Heaven Hill lost its onsite distillery, seven rickhouses, and almost 100,000 barrels of whiskey. “Our new distillery will honor our long-time Bardstown roots while applying state-of-the-art equipment and processes to produce the highest quality American whiskey and build upon our meaningful partnership with Bardstown and the Commonwealth…

PERNOD RICARD SAW SALES GROW 18% TO 8.4 BILLION EUROS ($8.8B) IN THE nine months through March, representing the first three quarters of its fiscal year. The company was boosted by 13% sales growth in the U.S., as well as double-digit contributions from China, India, Europe, and Latin America. Pernod said its very strong gains in the U.S. were somewhat enhanced by shipment phasing, which has added about three percentage points of growth over the first nine months and is expected to reverse in the fourth quarter. Amid broadbased price increases that took effect in February, Pernod’s key U.S. brands—including Jameson, Malibu, Kahlua, Jefferson’s, Martell, and the agave portfolio—continued to show very strong underlying growth according to the company, which added that recent innovation Jameson Orange is off to a…

MOËT HENNESSY USA HAS AWARDED Breakthru Beverage Group exclusive distribution of its luxury portfolio of wines and spirits in Illinois, effective August 1. The portfolio is transitioning to Breakthru from Southern Glazer’s. Moët Hennessy USA is now partnered with Breakthru across six markets, also including Colorado, Arizona, Maryland, Washington D.C., and Delaware. The third-largest wine and spirits distributor nationwide, Breakthru’s revenues are projected at $6.6 billion this year, including sales of nearly $1.4 billion in Illinois, its largest market.…

THE DUCKHORN PORTFOLIO HAS ACQUIRED THE 289-ACRE BOTTOM LINE Ranch in the San Miguel District of the Paso Robles AVA for an undisclosed sum. Planted to 265 acres of Cabernet Sauvignon, the vineyard has seven top clones on three drought-tolerant rootstocks, the company says. Duckhorn’s Central Coast footprint already includes Calera winery’s 82 acres of estate vineyards on Mt. Harlan. The company says the purchase will provide high-quality Cabernet Sauvignon and support growth for its Decoy and Postmark wineries. According to Impact Databank, Decoy rose 19% to just under 1.3 million cases in the U.S. last year.…

• CHIVAS BROTHERS, THE SCOTCH whisky arm of Pernod Ricard, has announced an £88 million ($111m) investment into Aberlour and Miltonduff, two of its strategic single malt distilleries. According to the company, the investment will go into upgrading sustainable distillation technologies at the Speyside distilleries along with significant production capacity expansions to meet growing global demand for Scotch whisky. The distillery expansions will grow Chivas Brothers’ total production by 14 million liters of alcohol per annum. • NBA STAR JAMES HARDEN HAS taken a stake in Tequila Gran Diamante. The Philadelphia 76ers shooting guard invested in the brand, which launched less than two years ago, for an undisclosed sum. Tequila Gran Diamante produces three expressions, all made with 100% blue agave: Plata (40% abv, $60 a 750-ml.); Reposado, aged eight…

WILLIAM GRANT & SONS RECENTLY launched its new ready-to-serve cocktail line, Batch & Bottle, nationally. The launch drops the company into one of the hottest categories in the U.S. and comes amid a period of growth for William Grant & Sons, whose total portfolio in the U.S. grew by 6.5% to over 3.2 million cases last year, according to IMPACT DATABANK. “Capitalizing on the trends over the last couple of years, we’ve had very strong business growth,” Paul Basford, U.S. president and managing director at William Grant & Sons, told Impact. “There are very nice trends from 2021 carrying into 2022. I think it’s a very encouraging Q1 start to the business.” He pointed to Hendrick’s and Tullamore Dew as two brands performing especially well for WG&S so far this…

RÉMY COINTREAU HAS POSTED REVenues up 27% organically to €1.3 billion ($1.4b) for its fiscal year ended in March, on a volume increase of 18%. The company said it has benefited recently from ongoing premiumization trends in the spirits category and rising interest in mixology. Rémy acknowledged a 9% decline in the fourth quarter, saying it reflected “efforts to control its strategic inventories before carrying out major price increases on April 1 and an unfavorable calendar effect linked to the Chinese New Year.” Rémy’s core Cognac business surged 31% to €948 million ($998m) for the year, with demand robust in the U.S. and Europe, offset partially by a slowdown in China owing to the recent Covid lockdowns in that market. Rémy Martin launched its new limited edition, L’Etape, a Fine…

PROXIMO SPIRITS IS UNVEILING A NEW UPSCALE TEQUILA BRAND IN COLLABOration with entertainer Kevin Hart. The newcomer, Gran Coramino, is debuting with a Reposado Cristalino Tequila retailing at $50 a 750-ml. Gran Coramino is launching in California, Texas, Illinois, New York, and Georgia ahead of a national rollout next month. The 100%-agave Tequila is first aged in Eastern European oak barrels and finished in California Cabernet wine casks. The liquid is then transformed into a clear Cristalino Tequila via a slow-filtration process pioneered by Proximo parent Grupo Cuervo a decade ago. Cristalino Tequilas have gained traction in the U.S. in recent years. Cuervo CEO Juan Domingo Beckmann tells Impact they have “the complexity and depth of an aged Tequila, with a smooth accessibility to be enjoyed either neat or in…

BACARDI HAS NAMED JEFF BRANSON as vice president and general manager for Canada, reporting to Pete Carr, regional president of Bacardi North America. Branson is returning to Bacardi after two years working at Southern Glazer’s Wine & Spirits as SVP of sales for the division dedicated to the Bacardi portfolio in North America. The transition to SGWS and return to Bacardi are part of a program between the two partner companies to accelerate talent development and create new leadership opportunities. • Far Niente Family of Wineries & Vineyards has named Kate McManus vice president of marketing. She previously served in the same role at Distinguished Vineyards & Wine Partners. Prior to that, she worked as vice president of marketing at Delicato and Constellation Brands, where she led marketing for national…

WHILE THE ON-PREMISE MARKET IN THE U.S. REMAINS thousands of accounts short of where it was when the pandemic hit, recent months have seen strong progress for restaurants and bars, especially in states that still had Covid restrictions in place at this time last year. According to CGA Strategy, the on-premise market in the U.S. is up 17% compared with 2021, with New York velocity up 39%, Illinois up 34%, and California up 26% in recent weeks against their previous-year performances. The stronger on-premise environment has been a boon for those hospitality-centered drinks brands that were forced to pivot to retail during the worst of the pandemic, as well as entire categories, like upscale gin and aperitifs, which are now enjoying much better operating conditions. As a whole, the gin…

SCOTCH WHISKY PLAYER COMPASS Box has announced a new majority investment from London-based firm Caelum Capital, and named Caelum advisor Maurice Doyle as CEO. Doyle, who previously held senior executive roles at Bacardi and William Grant & Sons, will lead Compass Box alongside founder and whiskymaker John Glaser. Financials on the Caelum deal weren’t disclosed, but the firm’s strategy calls for making equity investments of between $50 million and $200 million. Caelum founder and managing partner Manish Rungta was previously part of the global M&A team at Diageo.…

AFTER TWO CONSECUTIVE DIFFICULT years, the U.S. market for Champagne rebounded in 2021, as depletion volume rose an estimated 24% to 1.87 million 9-liter cases, a new all-time high. Champagne shipments to the U.S. fell nearly 20% in 2020 as the industry felt the compound effects of the pandemic and fears over tariffs that had prompted stockpiling in 2019. The pandemic had shuttered many of Champagne’s primary enjoyment occasions, with major events and celebrations sidelined due to social distancing measures. But last year export value to the U.S. soared 58% to €793.5 million ($938.7 million), and Champagne far outperformed fellow European sparklers Prosecco and Cava, according to IMPACT DATABANK. The two largest-selling Champagne brands in the U.S.—Veuve Clicquot and Moët & Chandon—both registered strong double-digit increases last year. Both part…

EUROPEAN SPARKLING WINE GIANT HENKELL FREIXENET SAW SALES INCREASE 11% to €1.3 billion ($1.4b) in 2021, led by its Freixenet and Mionetto brands. With the strong performance, the company surpassed its pre-Covid sales levels, boosted by the return of on-premise markets. “Despite major challenges, the past business year was extremely successful,” said Henkell Freixenet CEO Andreas Brokemper. “Led by our top brands distributed worldwide, we were able to grow significantly in practically all regions.” U.S. subsidiary Freixenet Mionetto USA contributed to a 26% increase for Henkell Freixenet in its Americas region, to €169 million ($178m). According to Impact Databank, the Mionetto brand increased 6% to 890,000 cases in the U.S. last year, while Freixenet rose 4% to 582,000 cases, leading the Spanish sparkling category. Fellow Cava brand Segura Viudas jumped…