[BND] Your Breakfast Briefing
Good Morning and Happy Friday, August 4, 2023.
AB InBev Revenue Up 7.2%, Net Plunged in 2Q
"Stay calm, carry on" seemed to be the motto at Anheuser-Busch InBev as the global brewer reported total volume declined 1.4% globally, organic revenue rose 7.2% but net profit was slashed to $607 million from $1,975 million a year earlier
How Seasons Affect What Sells On Premise
In the summer, a substantial 79% of U.S. On-Premise consumers seek refreshing cocktails to cool down. Iced cocktails dominate too, with 57% of people choosing them compared to just 17% in the colder season, according to the latest Consumer Impact Report from CGA by NIQ. In winter however, people’
Foley Family Wines Offers New Zealand Gin, Hires Master Distiller
Foley Family Wines is launching Lighthouse Gin (SRP: $49.99) in the U.S., an 80-proof, citrus-forward, New Zealand gin produced by Rachel Hall, the country's first female Head Distiller, and has appointed Joseph O’Sullivan as the Master Distiller of Minden Mill Distilling in Nevada. FFW purchased Lighthouse Gin
Spring Mountain Vineyard Names New CEO, Outlines Planned Renovations
Spring Mountain Vineyard named Peter Ekman CEO as it emerges from Bankruptcy Act proceedings following its purchase by MGG Investment Group and injection of new capital. Ekman has more than 25 years experience in revitalizing businesses. Numerous renovations are planned to the 845-acre property which was the setting for the
Ste. Michelle to Trim Grape Purchases 40%
Ste. Michelle Wine Estates plans to reduce total anticipated grape supply by 40% over the next five years, and has begun negotiating with individual growers over contracts it no longer wishes to continue. News of Ste. Michelle's cutback was delivered at a meeting with growers, according to Sean P. Sullivan,
Beer is 27% of Total Cost of Summer BBQ
Friday (6/4) is International Beer Day, and brewers should be celebrating. Beer is currently the most expensive item on the BBQ menu – making up 27% of the total cost – and consumers have endured 14 consecutive years of price hikes, which ought to make brewers feel better despite the fact
Heaven Hill, Log Still Settle Trademark Dispute Over 'Dant'
Heaven Hill Brands said it and Log Still Distilling, LLC, a family-owned-and-operated spirits company in Nelson County, Ky., have finalized a mutually agreeable resolution of their dispute regarding the usage of the “J.W. Dant” trademark and its associated goodwill, which were purchased by Heaven Hill in 1993. The resolution,
Control States Post Volume, Sales Increases
Total Control States spirits 9 liter volume in June increased 2.3% over a year earlier and 4.9% increase in sales, showing a resultant +2.6% price mix, the National Alcoholic Beverage Control Association said. The rolling 12-month 9L volume results remain positive up 0.5% and +3.4%
Prof. Edward Spang the helm of the Robert Mondavi Institute for Wine & Food Science at University of California, Davis. He succeeds Prof. Emeritus Andrew Waterhouse, who retired in June after five years with the institute. Rutherford Wine Co. promoted Janet Hammer to director of sales, national accounts, while Jennifer Burke
Bud Light’s Plan to Win Back Drinkers: Stick to Beer AB InBev outlines financial fallout from the Dylan Mulvaney debacle but says Americans remain favorable toward Bud Light. (Wall Street Journal)
Thank you for reading. Best wishes for a happy and relaxing weekend. Cheers! – Joel