The strong performance was driven by surging demand for the group’s flagship brand Penfolds in China following the removal of Chinese tariffs on Australian bottled wine in early 2024 The group also benefitted from a full-year contribution from Daou, the luxury California winery that TWE purchased in October 2023 for $1billion. Speaking on the results, chief executive and managing director Tim Ford said: “Overall, I am…
The Corona-owner had previously acquired Copper & Kings in 2020 through the company’s incubator arm, Constellation Ventures, following initial investment in 2018. The acquisition, for an undisclosed sum, was officially closed on 5 August, “We plan to build on Copper & Kings’ legacy by honouring its roots and continuing to do things our own way, just as the brand always has,” said Rob Bourdon, founder…
In a letter addressed to Donald Trump, the Toasts Not Tariffs Coalition has urged the president to “secure fair and reciprocal tariff-free trade for U.S. and EU spirits and wines as soon as possible”. The 57 signatories included key US trade organisations including the Distilled Spirits Council of the United States, WineAmerica and American Distilling Institute. The letter read: “Our sectors stand as a model…
Three separate class action lawsuits have now been filed against the North American arm of Diageo for allegedly marketing adulterated tequila as 100% agave. The lawsuits, filed in New York by two consumers and a sushi restaurant, a consumer in Florida, and a consumer in San Francisco, all suggest that the group’s Don Julio and Casamigos brands contain a portion of alcohol derived from sources…
The Johnnie Walker owner pointed to “exceptional impairment and restructuring costs, unfavourable foreign exchange and a decline in organic operating margin” as drivers for the decline. The report also outlined an increase in the group’s cost savings target as interim chief executive Nik Jhangiani said: “Our Accelerate programme is progressing well and is central to creating a more agile operating model. As such, I am…
Following negotiations between President Donald Trump and EU chief Ursula von der Leyen in Scotland, the pair agreed a US tariff on all EU goods of 15% – half of the 30% tariff on imported EU goods that was set to come into effect on 1 August. However, the details of the agreement remain unclear with Von der Leyen confirming on Sunday that the deal…
It is understood that 16 of the company’s staff will lose their jobs as a result. Since its launch in 2012, Proof & Company Spirits has been instrumental in the development of the Singapore and Asia Pacific hospitality sector through its distribution of independent spirits in the region. In an online statement, a spokesperson for the company said: “The decision follows a period of mounting…
The two new complaints have been filed in Miami-Dade County, Florida and San Francisco, California, respectively. Both suits were filed by customers of Don Julio and Casamigos products who claim they would have either not purchased or paid less for the tequilas if they had, as the Florida suit claimed: “Known the truth of the ingredients in the products.” The additional class action complaints follow…
The event is the first dedicated community and educational bar platform in New Zealand. “We wanted to create a bar show to bring some momentum and some inspiration to New Zealand bartending,” said Andrea Marseglia, founder of NZ Bar Con and Teresa Cocktail Bar, told Drinks International. “We are small, often overshadowed by our Australian cousins, so we wanted to give our bartending community an…
Ducceschi has previously led several companies in the food industry, including Albacora Alimentos, Adam Foods, and Nutrexpa. “I am confident that Mr Fabrice Ducceschi, with his experience and global strategic vision, will help consolidate our business in this new phase and successfully address the challenges of the ever-evolving and transforming wine sector,” said Miguel A. Torres, who will remain as chairman of the board of…
