News Briefs for October 13, 2021October 13, 2021
•Uber has completed its acquisition of Drizly for $1.1 billion, originally announced in February. Drizly is now a wholly owned subsidiary of Uber. Over the coming months, Drizly’s marketplace will be featured within the Uber Eats app, the company noted, while also maintaining a separate Drizly app and website. “Alcohol remains a key driver of demand from consumers in the U.S.,” said Uber CEO Dara Khosrowshahi. “On the Uber Eats app searches for alcohol items have spiked by 200% in the last year alone. We can accelerate our shared trajectory by introducing Drizly to Uber consumers and expanding its geographic presence in the years ahead.”
•Napa Valley’s Duckhorn has announced a new public offering of 12 million shares of common stock, mostly held by majority owner TSG Consumer Partners. Following the offering, investment funds affiliated with TSG will own approximately 65.1% of Duckhorn’s common stock, or 63.6% if the underwriters exercise their option to purchase additional shares, down from about 75% currently. Duckhorn, which debuted on the New York Stock Exchange in March, posted a strong set of results for its fiscal year ended in July, with sales leaping 24% to $337 million and adjusted EBITDA up 11.5% to $117 million.
•Jean-Charles Boisset and his wife Gina Gallo-Boisset have acquired The Ink House in Napa Valley for an undisclosed sum from the Castellucci family, which restored the property into a boutique luxury inn in 2017. Situated on land originally known as Helios Ranch, which is listed on the National Register of Historic Places, the Ink House property was first built in 1885 by Napa Valley pioneer Theron Ink as a single-family home and later a bed and breakfast. It was acquired by the Castellucci family in 2013. The Boissets intend to add a formal dining room and a new underground speakeasy to the four-bedroom inn this fall.
•Deutsch Family Wine and Spirits’ Redemption Whiskey has launched its latest limited release, a Bourbon whiskey finished in Cognac barrels. The new whiskey brings together Redemption and Maison Ferrand’s namesake Cognac by finishing the former’s high-rye Bourbon in the latter’s casks. After its initial maturation the whiskey spent a year in Ferrand Cognac casks before bottling at 49.5% abv. Redemption Cognac Cask Finish Whiskey is now available nationwide, while supplies last, for a suggested price of $70 a bottle. Last year, Redemption reached 91,000 cases in the U.S., up 13.3%. If current trends continue, the brand will reach 100,000 cases this year.
•Edrington’s The Macallan has kicked off a new series of limited edition whiskies with The Macallan Harmony Collection Rich Cacao. The collection will trace the brand’s trek toward sustainable packaging while showing off select whiskies from The Macallan’s library. This release was selected, as its name suggests, for its chocolate-forward flavor profile and was inspired by whisky maker Polly Logan’s work with Spanish pastry chef Jordi Roca and chocolatier Damian Allsop. The whisky’s box is 100% biodegradable and made from used cacao husks. It’s bottled at 44% abv and blends European and American Sherry-seasoned oak casks and is now available globally for a suggested price of $160.
•Campari Group has appointed Jesus Susunaga Acosta as Maestro Tequilero, overseeing the company’s Casa San Nicolás Tequila distillery and its Espolon and Cabo Wabo brands. Acosta, who succeeds late Espolon founder Cirilo Oropeza in the role, comes to Casa San Nicolás after serving with distilleries in Scotland, France, Brazil, Italy, England, and the Caribbean over the years, most recently at Bacardi-owned Cazadores. In addition to leading Casa San Nicolás, he’ll also be responsible for “shaping the future of Tequila innovation for the group” at its Arandas plant.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.