Remy Cointreau denies media reports that Chinese Imports of Remy Martin had been barred due to excessive levels of plasticizers
Remy Cointreau, the French producer of cognac brand Remy Martin, said Sunday that it was preparing the necessary documents for its products to clear Chinese customs, denying earlier media reports which said that customs had barred their entry for containing excessive...
Sidney Frank suing Beam for $100 million over Whiskey contract
The US makers of Jim Beam, Canadian Club and Makers Mark have been sued for $100 million (€76.8m) by an importer that claims Beam Inc and its Cooley Distillery unit broke a contract to supply it with Michael Collins Irish Whiskey. The importer — the New York-based...
Jose Cuervo moving from Diageo to Proximo in North America
Proximo Spirits will take over from Diageo as the US and Canadian distributor of the Jose Cuervo Tequila range. The company, which is owned by the same family as Jose Cuervo, confirmed today (1 March) that it will assume the sales, marketing and distribution mantle...
Vodka producer CEDC warns of bankruptcy
One of the world's biggest vodka producers, Central European Distributors Corp, has launched a last-ditch bond exchange to pare its debt by $750 million, but opposition from its chairman may force it to file for bankruptcy. The company, with headquarters in Mount...
Sources confirm that competition panel clears USL-Diageo deal
In a breather for liquor baron Vijay Mallya, the Competition Commission of India is understood to have given its approval to the Rs 11,167-crore United Spirits-Diageo Plc deal. Official and lawyer sources confirmed that the deal, which needed the fair trade...
Treasury Wine Estates posted first-half profit that beat analyst estimates as rising Asian sales and cost-cutting limited negative currency movements
Treasury Wine Estates Ltd. (TWE), Australia’s largest winemaker, posted first-half profit that beat analyst estimates as rising Asian sales and cost-cutting limited negative currency movements. The shares surged. Net income rose 31 percent to A$52 million ($53...
CEDC proposes bond-equity swap to reduce debt – considers pre-packaged bankruptcy as back-up plan
Central European Distribution Corp. (CEDC), the Polish vodka distiller rescued by Russian billionaire Roustam Tariko last year, proposed swapping bonds for equity to cut its debt by more than $750 million. The company, which made a deal in December to get as much as...
Beer lovers in class-action suit against Anheuser-Busch for watering down brews
Beer lovers across the U.S. have accused Anheuser-Busch of watering down its Budweiser, Michelob and other brands, in class-action suits seeking millions in damages. The suits, filed in Pennsylvania, California and other states, claim consumers have been cheated out...
AB InBev, U.S. Modelo Suit talks said leading to accord
Anheuser-Busch InBev NV (ABI) and U.S. Justice Department negotiations are heading toward an accord that will give the brewer antitrust approval to buy Grupo Modelo SAB, three people familiar with the matter said. The discussions center on AB InBev’s revised proposal...