News Briefs for August 7, 2015
August 7, 2015•MillerCoors’s net sales slipped 0.2% in the group’s second quarter ended June 30, but net income rose 9.3% to $487.2 million. Sales were hampered by the Miller Lite and Coors Light brands, which both posted low-single-digit declines. MillerCoors’s above premium portfolio, however, showed strength, with its Blue Moon and Leinenkugel’s lineups up mid-single and high-single digits, respectively, and its Redd’s franchise demonstrating double-digit growth.
•Hennessy Cognac has teamed with New York-based artist Ryan McGinness on a new limited edition Hennessy VS bottle. The special VS edition ($32 a 750-ml.) features a radiant pattern whose fluorescent colors glow under black light, and is also available in a limited number of two-bottle deluxe commemorative sets positioned at $150 each. The new bottling is the fifth in a series of Hennessy collaborations with critically acclaimed artists.
•Contract spirits producer MGP Ingredients posted a 5.4% sales rise to $69 million in its distillery products segment during its second quarter ended in June, saying it continues to see strong demand. In addition to its contract business, MGP recently unveiled its own Metze’s Select Indiana Straight Bourbon ($75), which will debut in September, marketed by Anchor Distilling.
•Classic Wines LLC has named Christopher Mattson vice president of national sales. Mattson was previously vice president at Jackson Family Wines’ West Burgundy Wine Group unit. Classic Wines has ownership interests in Kistler Vineyards, Buccella, Three Sticks, Lutum and Head High, and is owned by Bill Price.
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