News Briefs for November 1, 2016November 1, 2016
•Teeling Whisky Co. enjoyed sharp rises in revenue and profit in its latest fiscal year. The Irish whiskey company’s revenue more than tripled to €24.6 million ($27m), while its pre-tax profit jumped by 73% to €2.95 million ($3.25m). Launched by Jack and Stephen Teeling—sons of John Teeling, who sold Ireland’s Cooley Distillery to Beam Inc. in 2012—Teeling Whisky Co. has also ramped up its headcount, with its number of employees rising from 15 to 24 last year. In June 2015, the company opened a new €10 million ($11m) distillery in Dublin—the first distillery to open in the city in well over a century.
•Andover, Massachusetts-based Burtons Restaurant Group, which currently operates 14 locations, is opening a new unit in Charlotte, North Carolina next month and will launch locations next year in Florida (Boca Raton), Massachusetts (Shrewsbury) and Maryland (College Park). Burtons will also expand its Red Heat Tavern concept to New Hampshire (Bedford) and Massachusetts (Peabody) in 2017. CEO Kevin Harron said the company is seeking new sites in Indiana, Ohio and Kentucky. A typical Burtons restaurant spans 6,500 square feet, seats 200 and grosses more than $4 million annually, with 25% of revenues coming from beverage alcohol. Twelve of the 15 draft beer handles in each unit are reserved for local craft products.
•Anheuser-Busch InBev has named Marcel Marcondes vice president of marketing for the U.S., replacing Jorn Socquet. Marcondes was previously global vice president, marketing brands and growth development platforms. Socquet has been appointed to a new role as vice president, marketing strategy, core brands, reporting to global chief marketing officer Miguel Patricio.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.