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

News Briefs for November 5, 2015

November 5, 2015

•Diageo has agreed to sell its wine interests in Argentina to Grupo Peñaflor. The deal includes the Navarro Correas and San Telmo brands—with net sales of £18.5 million ($28m)—as well as production sites and vineyards. In addition, Peñaflor will be appointed as the distributor of Diageo’s international spirits brands across Argentina, and after an interim period will jointly produce with Diageo the company’s domestic brands in the country. Expected to be completed in early 2016, the transaction will result in an exceptional loss before taxes of £60 million ($91m) for the drinks giant.

•Grammy-, Golden Globe- and Oscar-winning recording artist John Legend has partnered with Napa Valley’s Raymond Vineyards to produce a limited-edition line of wines under the label LVE: Legend Vineyard Exclusive. Legend recently unveiled the project on his Instagram account, posing with a bottle of his 2013 Napa Valley Cabernet Sauvignon. The inaugural vintage also includes a 2014 Napa Valley Chardonnay. The Cabernet is sourced from Yountville, Rutherford and St. Helena, and retails for $85. The Napa Valley Chardonnay retails for $45. Currently on sale on the winery website, they will become available in stores and restaurants later this year. Wine Spectator has more.

•California’s Cameron Hughes Wine has released a new Private Reserve Collection set, featuring six vintages of luxury Napa Valley Cabernet Sauvignon. The collection, which includes 750-ml. bottles of the 2006, 2007, 2008, 2009, 2010 and 2011 vintages, is currently available for purchase online, retailing at $399 and limited to 3,000 six-bottle boxed sets.

•Iconic Brands is extending its Sangre de Vida franchise with a new mezcal expression. Sangre de Vida Mezcal, which joins the brand’s existing Tequila offerings, is at 45% abv and retails at $50 a bottle. It’s rolling out across 13 states. Meanwhile, California-based Iconic says it’s moving production for its Deadhead rum brand—which has nearly doubled to about 20,000 cases within the last three years—to a new distillery, Mexico’s Destilados Bonampak, to meet rising demand.

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