Latest news with #spirits
Bloomberg
a day ago
- Business
- Bloomberg
French Cognac Makers Rise on Reported Deal to End China Spat
Shares of Pernod Ricard SA and Remy Cointreau SA rose after Reuters reported the cognac makers had agreed a tentative deal with the Chinese government to end a months-long trade spat. France's biggest cognac makers had been unable to sell through China 's duty-free channels since December following an investigation into allegations that producers were dumping the spirit into the market. The ban was temporarily lifted on April 5, with the outcome of the probe pushed back to July.
Reuters
2 days ago
- Business
- Reuters
Italy's Campari to sell Cinzano and Frattina brands for 100 million euros
MILAN, June 26 (Reuters) - Italian spirits group Campari ( opens new tab has agreed to sell its Cinzano vermouth and Frattina grappa brands to domestic rival Caffo Group 1915 for 100 million euros ($117 million), it said on Thursday. The deal is part of Campari's efforts to streamline its brand portfolio by selling non-core items to focus on its core spirits business and reduce debt. Both Cinzano and Frattina include also a sparkling wine production alongside the vermouth and grappa which the two brands, respectively, are famous for. In 2024 net sales of Cinzano and Grappa Frattina amounted to 75 million euros and accounted for 2% of Campari's overall net sales. ($1 = 0.8550 euros)
Yahoo
4 days ago
- Business
- Yahoo
Brown-Forman Corporation (BF-B): A Bull Case Theory
We came across a bullish thesis on Brown-Forman Corporation (BF-B) on Moram Capital's Substack. In this article, we will summarize the bulls' thesis on BF-B. Brown-Forman Corporation (BF-B)'s share was trading at $27.77 as of 10th June. BF-B's trailing and forward P/E were 15.03 and 14.51 respectively according to Yahoo Finance A close-up of bottles of whisky and other alcoholic beverages from a winery. Brown-Forman, the dominant force in American whiskey and a top-five global player in premium spirits, finds itself at a unique inflection point. Despite doubling its operating profit since 2013, the stock now trades at decade-old levels, presenting a compelling value disconnect. Nearly 90% of its revenue stems from American whiskey and tequila, two of the fastest-growing spirits categories over the last decade, highlighting the strength of its portfolio. At the heart of Brown-Forman lies the iconic Jack Daniel's brand, a global household name with unmatched brand equity. But the company's depth goes beyond Jack, with heritage-rich labels like Old Forester and Casa Herradura, both founded in 1870, anchoring its position in bourbon and tequila. Brown-Forman also owns leading brands in four premium categories: Woodford Reserve (super-premium whiskey), Herradura (super-premium tequila), Gin Mare (ultra-premium gin), and Diplomatico (ultra-premium rum), giving it broad exposure to high-growth niches. Recent macro headwinds have hit the stock hard—Brown-Forman is down 60% from its highs amid inflationary pressure, rising rates, and shifting consumer sentiment. Interest has drifted toward wellness trends, including GLP-1s, cannabis, and Gen Z preferences, while the new U.S. administration's 'Make America Healthy Again' campaign poses policy risks for alcohol. Yet, potential tailwinds could reenergize the narrative. A reversal of U.S. tariffs on bourbon could boost domestic competitiveness, and collapsing agave prices in 2025 offer a margin expansion opportunity in tequila. Though short-term demand data is soft, Brown-Forman's timeless brands and deep global heritage suggest long-term strength beneath the surface volatility. Previously, we covered a on Brown-Forman (BF-B) by Olver| MMMT that emphasized its dividend consistency, defensive margins, and relative tariff resilience. Moran Capital's thesis strengthens the case by framing Brown-Forman as a structurally undervalued global spirits powerhouse with deep category exposure and brand equity across whiskey, tequila, gin, and rum, arguing that macro-driven weakness has obscured a premium brand portfolio poised to benefit from cyclical recovery and commodity tailwinds. Brown-Forman Corporation (BF-B) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held BF-B at the end of the first quarter, which was 38 in the previous quarter. While we acknowledge the risk and potential of BF-B as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey.
Zawya
5 days ago
- Business
- Zawya
EXCLUSIVE: RAK's Falcon Brews secures term loan from Indian bank for $65mln brewery and bottling project
Falcon Brews, the GCC's first licensed brewery and spirits blending and bottling project, has secured a $25 million term loan facility with the Middle East subsidiary of an international Indian bank, a senior company official confirmed to Zawya Projects. Refuting market rumours about the project being on hold, the company official, who did not wish to be named, disclosed that the loan has been structured against India-based assets as collateral. The $65 million project, located in Ras Al Khaimah, is being developed in two phases with approximately $45 million allocated to the brewery and $20 million to the spirits bottling plant. 'We are taking a loan only for Phase 1, which will cost us $35 million and we have secured $25 million from the bank as part of our 70:30 debt equity model,' he said. The official said disbursements to contractors and suppliers will be milestone-based, with the remaining facility potentially converted into working capital upon project completion. As first reported by Zawya Projects in May 2024, Falcon's funding structure involves 30 percent promoter equity and 70 percent debt. The company has held discussions with both UAE-based and international banks as well as a few global brewers to finance the debt portion. Construction work starts 'We started construction on the project as planned but experienced delays due to a gas pipeline running through the plot. That issue has been sorted,' he said, adding that construction will start simultaneously on both the plants. He said the spirits bottling line, initially slated for completion by end-2025, is now expected to be ready by January 2026, while the brewery is targeted for completion by end-2026. 'We have also finalised the MoU with the brewery and plan to sign the final agreement by end July,' the official said. The official said that the project has received considerable interest from Indian investors as well as non-resident Indian investors of African-origin based in UAE. 'Maybe, three years down the line, we may consider them in case of early closure of our loan,' he said. 'We will then look at the funding for Phase 2 and may not take a loan at that time. Depending on our financial position, we could look at bringing in an equity investor at that time." The May 2024 Zawya Projects report had also noted that the promoters are targeting regional and African markets through strategic manufacturing partnerships. According to a report by the UAE's state news agency WAM in April 2025, the India-UAE Comprehensive Economic Partnership Agreement (CEPA), which came into effect on 1 May 2022, has significantly boosted investment and trade flows between the two countries. It stated that India ranked as the UAE's second-largest foreign investor, accounting for a 6.3 percent share of total FDI as of the end of 2022. (Reporting by Sona Nambiar; Editing by Anoop Menon)
Forbes
21-06-2025
- Business
- Forbes
The World's Best Selling Scotch Whisky—According To The 2025 Brand Champions
Johnnie Walker Blue Label remains one of the world's highest regarded—and top-selling—labels of ... More premium blended Scotch whisky. The Brand Champions is an annual report revealing and analyzing the top-selling labels of liquor in any given year. Since it debuted back in 2014 it has provided a reliable and informative snapshot--not just of individual brands--but of the general trajectory of the industry as a whole. Last year, for example, total volume sales of spirits increased a modest 1.4% over 2022 numbers. Not great. But not terrible. This year, roughly half of the top 150 brands listed in the communique reported a decline, leading its publisher to label the landscape as one of 'perma-crisis.' We promise you, though, it's not all doom and gloom for booze. Just take a look at the top-selling scotch whiskies for some spirited reassurance. The reigning brand champion in the category is Johnnie Walker, which has dominated global whiskey sales throughout the 21st Century. Yes, it's overall sales dipped slightly year-over-year (21.6 million cases sold in 2024 versus 22.1 million in 2023), but its numbers are up some 50% since 2020. It underscores the point that people around the world are still consuming whisky at near-record numbers. It's merely the rate of growth that has slowed--which was never fully sustainable anyway, given its astronomical trajectory across the 2010s. And while other less-nimble whiskey brands might be losing some market share to tequila, or even non-alcoholic offerings, Johnnie Walker has bucked that movement by continually carving out new audiences across a wide spectrum of drinkers--from fans of the top shelf to the well. For mass appeal, Red Label remains the crowd favorite. The most affordable liquid in the portfolio is non-aged-stated, retails for $25 a bottle and has been the world's best-selling scotch since the mid-1960s. Joining it now is Johnnie Walker Black Ruby, priced at around $45 per bottle. Officially released in March of 2025, it's intended as a slightly upmarket, yet eminently accessible expression. The brand's master blender, Dr. Emma Walker, describes it as a sweeter blend with red berry notes. This flavor profile, along with sleek packaging, suggests it will be aimed at nightlife crowds that might otherwise be looking for vodka or tequila while ordering bottle service. Even on the ultra-premium end of the divide, Dr. Walker has signaled a willingness to meet modern drinkers where they are. Her first limited edition of Johnnie Walker Blue Label, Ice Chalet, came out last October and was an immediate hit with Gen Z and Millennial demographics. It's a lighter, more refreshing variant of the beloved top shelf staple, and yet its core DNA--robust depth and gentle smoke--remains discernible. In other words, it can win over newcomers without alienating the loyal legions. And when it comes to sustaining the ultra-high net worth consumers, Johnnie Walker seems better positioned in 2025 than ever before. It just launched its own bespoke Vault program earlier in the year, where deep pocketed fans of the whisky can travel directly to Scotland and pay upwards of £50,000 to develop their own bottling in conjunction with Dr. Walker, herself. Additionally, parent company Diageo launched a dedicated luxury division late last year. And so, for the world's top-selling brand of scotch, at least, the current state of the industry should hardly be characterized as a crisis. The full 36-page report of 2025 Brand Champions can be found here. LONDON, ENGLAND - OCTOBER 29: A general view of the atmosphere at the launch of the Johnnie Walker ... More Blue Label Ice Chalet at Selfridges on October 29, 2024 in London, England. (Photo byfor Johnnie Walker Blue Label)
