News Briefs for November 8, 2013November 8, 2013
•Canada’s Corby Distilleries, majority-owned by Pernod Ricard, is changing its name to Corby Spirit and Wine and altering its logo to better link it with that of Pernod’s. Concurrently, Corby posted net earnings up 9% to C$7.5 million ($7.2m) in the three months through September, its fiscal first quarter, “mostly driven by the launch of J.P. Wiser’s Rye and J.P. Wiser’s Spiced Canadian whiskies in the U.S. market.” Corby cautioned that profit growth is unlikely to continue at that level, because it intends to ramp up its marketing spend behind the Wiser’s label in the U.S., where it’s handled by Pernod USA. Including both its Canadian and international businesses, Corby’s overall shipment volume rose 1% to 566,000 cases in the first quarter—led by a 28% jump in Wiser’s to 242,000 cases—while value rose 7%. In late September, Corby secured exclusive rights to Pernod’s Absolut in Canada through September 2021, paying $10.3 million to retain the brand.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.