Tequila, RTDs Boost Cuervo In The U.S.

A solid performance in the Tequila and RTD segments boosted Grupo Cuervo in the U.S. in the first quarter of the year, even as currency fluctuations and challenging conditions in some global markets impacted its overall results. Global sales were up 1% to $522 million at constant currency, but slipped 6.5% with forex effects factored in, while volume dipped 4.4% to 5.3 million 9-liter cases. EBITDA grew 16% at constant currency to $103 million, but was down 1% on a reported basis.

Cuervo’s North America region saw organic sales grow 7.4% to $302 million on a 4.8% volume increase to 3.2 million cases, with currency again holding back results on reported basis. The currency effect was partially offset by a skew toward higher-tier brands and price increases. The group’s Tequila and RTD portfolios led the way in the region.

According to Impact Databank, Cuervo’s 1800, Pendleton, Proper No. Twelve, Gran Centenario, 400 Conejos, and Maestro Dobel brands all showed volume growth in the U.S. last year, with Jose Cuervo, Bushmills, and the Jose Cuervo and 1800 RTD Margaritas decreasing.—Daniel Marsteller

Tagged : 1800, Cuervo, Gran Centenario, Pendleton, Proper No. Twelve

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