News Briefs for November 27, 2012
November 27, 2012•In addition to serving as importer of Argentine wine brand Trapiche, the Wine Group has been busy seeding Trapiche’s portfoliomate, Finca Las Moras, in the U.S. market. (Both labels are owned by Argentina’s Grupo Peñaflor.) Finca Las Moras is based in the lesser-known region of San Juan, 100 miles north of Mendoza. It has had a meteoric rise since its founding within Grupo Peñaflor a decade ago. Total production was 1.5 million cases last year, exported to 44 countries, including key markets of Mexico, Canada and Sweden. Retail prices run from $10-$50 for the flagship 2008 Finca Pedernal Malbec. The winery’s small-production organic and sparkling wines, both popular in Argentina, won’t be on sale in the U.S. initially. “We’ll aim at first at the on-premise business in the U.S. and then build our brand from there,” said Alejandro Lopez, the Miami-based U.S. regional manager for Finca Las Moras.
•New York City-based chef and restaurateur Mario Batali will soon open his first Boston restaurant, though an exact opening date hasn’t been announced. The concept will be called Babbo Pizzeria and will be located in the Fort Point district and Seaport area of South Boston. Babbo Pizzeria is expected to be an extension of Batali’s OTTO Enoteca Pizzeria brand, which has locations in New York City and Las Vegas and offers fresh pizzas, pastas and other Italian classics, as well as an extensive wine list. Batali owns and operates more than a dozen restaurant concepts in New York, Las Vegas, Los Angeles, Connecticut, Hong Kong and Singapore.
•Italian wine group Marchesi de’ Frescobaldi has unveiled the first U.S. outpost of its Dei Frescobaldi restaurant and wine bar in Miami. Independently owned and operated by Frescobaldi family member Piero Benini, the new eatery will offer a traditional Tuscan menu, featuring homemade pastas, imported meats and cheeses and specialty dishes. The wine list will feature a variety of Frescobaldi wines, including special vintages and formats. Dei Frescobaldi Miami Beach joins the restaurant’s existing locations in Rome (where the Rome Fiumicino Airport houses three separate outposts), London and Florence.
•Rémy Cointreau posted a 13.3% organic net sales rise to €596 million ($770m) for the six months through September, its fiscal first half. Operating profit was up 18% organically to €142 million ($184m). Rémy says it’s fueling the upswing with its “long-term value strategy by maintaining a consistent pricing policy and moving products upmarket at a more rapid pace, with targeted investment to support brands.” Rémy Martin Cognac, paced by upscale marques in China and the U.S., saw organic sales rise 20%, and some European markets, notably Russia, are also now showing signs of growth. Rémy’s liqueurs and spirits division increased sales 3.5% organically, with Cointreau and St-Rémy rising in strategic markets.
•Brown-Forman has declared a special cash dividend of $4 a share on class A and class B common stock to be paid December 27. The special cash dividend is in addition to the 9.3% increase in the company’s regular cash dividend announced November 15. Brown-Forman chairman and CEO Paul Varga said the company chose to make this payment in calendar 2012 “because of uncertainty surrounding future dividend tax rates,” adding, “Even after this special dividend we retain ample capacity to make long-term investments in our business, such as the current expansion of the Jack Daniel’s Distillery and strategic acquisitions.” Brown-Forman’s net sales were up 10% organically to $878 million in the three months through July, its fiscal first quarter.
•Southern Wine & Spirits (SWS) has named Matt Munn senior vice president-general manager of wine for SWS of New York, replacing Brett Dunne. Munn is currently senior vice president-general manager of spirits for SWS-Nevada. He will be replaced in that role by Ian Staller, currently senior vice president-CFO of SWS-Nevada. Both appointments are effective January 1.
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Tagged : Brown-Forman, Remy Cointreau, restaurants, Southern Wine & Spirits, The Wine Group
