News Briefs for June 6, 2013June 6, 2013
•Spain’s Diego Zamora says it’s completed a €15 million ($19.6m) expansion, including a new plant for its Licor 43 liqueur brand that will boost capacity by 50% to 12 million bottles. The new plant, located in Cartagena, will also serve as the new headquarters for Diego Zamora, which posted sales of €124 million ($162m) in 2012, up 9% (exports, which rose 19% during the period, account for 34% of sales). In addition to Licor 43, Diego Zamora’s brands also include Ramon Balboa (up 21% by value last year) and Mar de Frades wines, all of which are handled in the U.S. by Deutsch Family Wine & Spirits. According to Impact Databank, Licor 43 more than tripled to 54,000 case depletions in the U.S. market in 2012, up from 15,000 a year earlier.
•Landry’s Inc. has acquired Woodland Hills, California-based Mastro’s Restaurants LLC for an undisclosed amount. Landry’s plans to expand the company, which owns the Mastro’s Steakhouse and Mastro’s Ocean Club upscale brands, from 11 units to 14 units within the next 15 months. Mastro’s chairman and chief executive Mark Levy will remain in place to run day-to-day operations. Mastro’s is estimated to be worth $22 million before interest, taxes, depreciation and amortization. Privately-owned Landry’s owns more than a dozen restaurant and hospitality concepts nationwide and the company said in 2012 that it expected to generate around $2.5 billion in revenue across its brands.
•Treasury Wine Estates has named Tony Reeves as its chief financial officer, effective July 1. Reeves will replace Mark Fleming, who is leaving the company to “take a career break before pursuing new opportunities,” according to Treasury. Reeves will report directly to CEO David Dearie and will be based at Treasury’s global headquarters in Melbourne, Australia. He has previously served in a number of CFO positions, including at Foster’s Group, where he oversaw Treasury’s demerger and establishment as a standalone company in 2011.
•Stephen Teeling has left Beam Inc., where he served as the company’s global marketing manager for Irish whiskey, to join his family’s new venture, Teeling Whiskey Co. Teeling now holds the title of sales and marketing director at Teeling, and will help the company speed up development and position themselves as “the key driver in the segmentation of the Irish whiskey category by providing choice and more breadth in terms of expressions and styles of Irish whiskey,” according to founder Jack Teeling. Stephen was appointed to his role at Beam in January 2012, when the company acquired Cooley Distillery (founded by his father John) for $95 million, to assist with the integration of the Cooley brands as well as oversee the repack of the core Kilbeggan brand.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.