Exclusive news and research on the wine, spirits and beer business

News Briefs for September 5, 2014

September 5, 2014

•Indian spirits giant United Spirits Ltd. (USL), which is now controlled by Diageo, reported a net loss of INR44.9 billion ($742.7m) for the year through March. USL attributed the decline to a writedown related to the sale of its Whyte & Mackay Scotch whisky business to Philippines-based Emperador earlier this spring. Operating losses totaled INR34 billion ($579m), compared to an operating profit of INR 11.4 billion ($188m) last year, while net sales eked out just a 1% gain, to INR105 billion ($1.74b). Diageo, which currently holds 54.78% interest in USL, paid £1.8 billion ($3.1b) to gain its majority share in July. According to Impact Databank, USL’s volumes were relatively stagnant, at 125 million cases, last year.

•San Francisco’s Anchor Distilling has released Anchor Old Tom Gin, its third small-batch gin entry. Made with juniper berries, star anise, licorice root and stevia, the new 45%-abv offering is bottled unfiltered, and billed as a sweeter style than a London dry gin. Anchor Old Tom Gin, which is priced at $29.95 a 750-ml., joins Junipero gin, a London dry gin, and Genevieve, a Genever-style gin, in Anchor Distilling’s existing portfolio. Additionally, Anchor Distilling handles Berry Bros. & Rudd’s No. 3 London dry gin in the U.S.

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