Beam Suntory’s U.S. Sales Increase 4% In Fiscal YearFebruary 16, 2021
Beam Suntory posted U.S. sales up 4% in 2020, with on-premise conditions improving over the second half of the year and spirits accruing additional share of the overall beverage alcohol market. Company CEO Albert Baladi said the group benefited from “increased investments in e-commerce and ready-to-drink products” as spirits occasions centered around the new “home-premise.” Globally, Beam Suntory’s sales were roughly flat at approximately $4.6 billion for the year.
Among Beam Suntory’s key brands, Jim Beam crossed 11 million cases in global volume for the first time last year, while sales for Basil Hayden’s Bourbon, Hornitos Tequila, Toki whisky, and Roku gin increased at double-digit rates. Recent RTD acquisition On the Rocks likewise contributed to growth.
“Looking ahead, the pace of recovery from the ongoing pandemic remains uncertain,” said Baladi. “In this environment, we expect to drive continued improvement in sales as we benefit from the strategic investments we made in 2020.”—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.