News Briefs for December 22, 2021December 22, 2021
•Global Cava sales increased 16.5% to 170 million bottles (14m cases) in the nine months through September, the region’s regulatory body reported. The higher-priced Cava Reserva category rose 35% to more than 19 million bottles (1.6m cases), while Gran Reserva shipments jumped 42%. Growth was pronounced across key export markets like Germany (+12% to 1.7 million cases), the U.S. (+63%), the Netherlands (+22%), Russia (+45%), and Canada (+29%).
•San Diego, California-based Cutwater Spirits has added two new flavors to its extensive lineup of canned cocktails. The newcomers are Tiki Rum Punch and Orange Vodka Smash, both at 7% abv. Orange Vodka Smash, made with Cutwater Vodka, had a limited debut over the summer on the east coast but will now be available nationally. Tiki Rum Punch, also in national distribution, is made with Cutwater’s Bali Hai Tiki Rum mixed with orange-passion fruit punch. Both are available now, priced at approximately $14 a 4-pack on Drizly. Cutwater Spirits was acquired by Anheuser-Busch in 2019 and more than doubled in volume to above 700,000 9-liter case equivalents last year, according to Impact Databank.
•Campari Group has launched a new Employee Stock Ownership Program (ESOP), with more than half of all eligible employees opting to participate. During the enrollment period between October 18 and December 17, 51.6% of eligible Campari employees signed up for the program, which allows them to devote part of their salary to the stock ownership plan. Those contributions are used by the plan administrator to purchase Campari ordinary shares and, following a three-year vesting period, employees participating in the ESOP are entitled to receive a free award of matching shares based on a matching ratio.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.