News Briefs for February 23, 2016
February 23, 2016•Treasury Wine Estates (TWE) is in the process of culling roughly 30% of its product lines, according to the Sydney Morning Herald. TWE CEO Mike Clarke recently told the Herald that the company is already more than halfway through the rationalization initiative, and is aiming for completion by mid-2016. Before the culling began, TWE had more than 3,000 individual product lines across its 100-plus brands. Clarke said he’s not planning to sell off any of the lines, but instead wants to retain the trademarks for potential future use. TWE augmented its portfolio in recent months with the acquisition of around 25 wine brands from Diageo.
•Boston-based Latitude Beverage Company is rolling out its Mija Sangria in 1.5-liter flip-top bottles nationally, and expects to sell more than 50,000 cases of the brand this year, helped by a wider distribution base. Latitude sold out of 18,200 cases of Mija in the first six months of last year, distributing to a dozen states. The 9.5% abv Sangria is made with premium dry red wine and unfiltered raw fruit juice from pomegranates, acai berries and blood oranges without additives or sweeteners. The 750-ml. bottles retail at $10.99, and the 1.5-liter bottles will be at $16.99. In addition to Mija, Latitude’s portfolio includes 90+ Cellars, Iron Side Cellars, Magic Door Vineyards and Earthshaker Wines.
•James “Mac” Armstrong, a 42-year veteran of Tennessee-based B&G Wholesalers/Horizon Wine & Spirits, passed away February 19 at the age of 72 after an extended illness. Armstrong, credited with helping to drive years of growth for Horizon, retired as the company’s vice president of sales and marketing in 2014.
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