News Briefs for March 11, 2016March 11, 2016
•Barton & Guestier USA has introduced a new wine, Passeport Bordeaux by Laurent Prada. An AOC Bordeaux blend of 85% Merlot and 15% Cabernet Sauvignon, Passeport is launching now, positioned at around $12 a bottle at retail. Each bottle bears the signature of Barton & Guestier director of winemaking Laurent Prada. B&G USA COO Hubert Surville told SND last fall that the Miami-based importer’s current annual volume is around 150,000 cases, and projected a rise to 250,000-300,000 caseswithin three years.
•MGP Ingredients posted a net sales increase of 4.5% to $328 million for its full fiscal year ended in December. The spirits supplier saw operating profit nearly double to $33 million. For the year, MGP’s distillery products segment rose 5.3% to $270 million, including a nearly 10% boost in the fourth quarter. MGP president and CEO Gus Griffin said, “Tailwinds for our business include spirits gaining share from beer, the continued strong demand for Bourbon and rye whiskies, and the overall premiumization of the beverage alcohol industry,” and added that the company has been making targeted investments to keep up with the pace of whiskey growth in the market.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.