News Briefs for June 1, 2012June 1, 2012
•In a recent interview with The Irish Times, William Grant & Sons CEO Stella David said the company’s Irish whiskey brand Tullamore Dew has the potential to hit 1 to 2 million cases in the next five to 10 years. Acquired by William Grant from C&C Group in 2010, the brand’s global sales have been growing at around 15% annually, reaching just under 700,000 cases in 2011—80,000 of which were sold in the U.S. Earlier this year, William Grant pledged to invest €35 million ($47m) in a new Tullamore Dew distillery in Tullamore, Ireland, and also unveiled a new television and print campaign, under the tagline “Irish True.” Additionally, the brand is set to debut a new package next month. Tullamore Dew is the third-largest Irish whiskey brand in the U.S., after Pernod Ricard’s Jameson and Diageo’s Bushmills, but is considerably smaller than its rivals, suggesting the brand has a significant upside.
•Beam Inc. has completed its acquisition of Pinnacle vodka and Calico Jack rum from White Rock Distilleries for $605 million. Last year, Pinnacle (an Impact Hot Brand) sold 2.7 million cases on 93% growth, and the brand has the potential to become Beam’s biggest-volume brand in the U.S. market by the end of 2012. Beam CEO Matt Shattock said the company will “substantially increase brand investment” in Pinnacle, which recently launched its first TV ads behind a $7-million 2012 ad budget under White Rock. Calico Jack rum, also an Impact Hot Brand, sold 400,000 cases on a 16% volume increase in 2011.
•The National Restaurant Association’s Restaurant Performance Index (RPI), a monthly review that tracks the U.S. restaurant industry’s current status and future outlook, declined slightly in April to 101.6, down from 102.2 in March, but still reflects overall positive restaurant performance. April’s 101.6 RPI marks the sixth consecutive month the RPI was more than 100, with 57% of surveyed restaurant operators reporting positive same-store sales between April 2011 and April 2012 and 52% reporting positive outlooks on sales and business conditions over the next six months.
Tagged : Beam Inc, Irish whiskey, Pinnacle, restaurants, William Grant & Sons