News Briefs for February 26, 2021February 26, 2021
•Bumbu Rum Company is introducing Bumbu Créme, a new line extension joining its existing Bumbu Original and Bumbu XO expressions. Retailing at $35 a 750-ml., Bumbu Créme is a 15% abv blend of rum, spices, and real dairy cream and is recommended to be served chilled straight, on the rocks, or in cocktails. Bumbu is part of the Sovereign Brands portfolio, which also includes Luc Belaire sparkling wine, McQueen and the Violet Fog gin, and Villon, a French spirit competing in the Cognac category.
•PepsiCo is launching a new Neon Zebra line of cocktail mixers, aiming to carve out a presence in the booming home cocktail space. Neon Zebra will initially include Margarita, Strawberry Daiquiri, Mojito, and Whiskey Sour mixers, with the brand aimed at consumers in the 21-34-year-old age bracket. Rolling out nationally, the new entries will retail at $7-$8 a six-pack of 7.5-ounce cans.
•González Byass is releasing the 2020 edition of the Tio Pepe Palmas Collection in the U.S. Marking the tenth year of the special edition Sherries, the latest offering includes Una Palma ($37), Dos Palmas ($44), Tres Palmas ($79), and Cuatro Palmas ($108) and is intended to showcase the development of the Sherry through the solera aging system. González Byass USA is launching the 2020 Tio Pepe Palmas Collection this month in select markets.
•For fiscal year 2020, MGP Ingredients reported a 6.8% increase in sales for its Distillery Products segment, up to $317.5 million. In Q4, the company reported a similar level of growth (7%) and saw sales reach $80.6 million. Brown spirits sales surged by 16.7% for the year, reaching $125 million. White spirits also rose—by a smaller amount—to roughly $64 million, a gain of 2.4%. “Our record gross profit results confirm the long-term value of our aging whiskey inventory, supported by our ability to cultivate solid partnerships with existing customers as well as attract new aged whiskey and new distillate customers,” said David Colo, president and CEO of MGP.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.