17 May 2018
C&C Group arranges repayment schedule for Matthew Clark Bibendum
Irish drinks conglomerate C&C Group has agreed a schedule to repay HMRC and three banks which lent money to Matthew Clark Bibendum, a former subsidiary of Conviviality acquired by the group in April.
In its full year results investor presentation the company announced it had agreed a payment schedule with HMRC to pay £36m in overdue excise duty and VAT, as well as paying £102m to three bank creditors over the next 12 months.
The company also said it had negotiated normal credit terms with 75% of suppliers and was in ongoing discussions with credit insurers.
C&C Group also noted in its results that Matthew Clark Bibendum had been under financial stress before the acquisition with stock and services significantly below normal. Stock totalled £56.3m, trade and other receivables was £184.9m and trade and other payables were £247.1m.
17 May 2018
Malibu launches summer seasonal products in the UK
Pernod Ricard-owned coconut rum brand Malibu has unveiled its two summer seasonal products in the UK; passion fruit rum in 70cl bottles and Piña Colada flavoured ready-to-drink (RTD) cans.
Malibu Passion Fruit was created in order to capitalise on the popularity of Porn Star Martinis in the UK; the flavour is already in circulation in the US alongside mango and tropical banana. It will replace pineapple, which was last year’s summer product, and will be sold in Tesco and Asda.
Pernod Ricard UK channel director for grocery Chris Shead said: “The launch of Malibu Passion Fruit is a game changer for cocktails at home, as it will not only simplify the process of making the Porn Star Martini, but will open up the brand to those who have previously shied away from its coconut flavour.”
Malibu Piña Colada RTD cans will replace Strawberry Kiwi and be sold only in Tesco initially. Other RTD Malibu products available in the UK are pineapple and cola. The two seasonal product launches will be accompanied by advertising on social media, as well as in retail stores.
17 May 2018
Latitude Beverage launches ACK and MVY rosé wines
US wine producer Latitude Beverage Company has launched the ACK Rosé and MVY Rosé under its newest brand, Places Wines.
The brand’s packaging is designed to focus on a special locations in the US. The labels of ACK Rosé and MVY Rosé feature two of New England’s iconic summertime island destinations including Nantucket and Martha’s Vineyard.
Latitude Beverage Company CEO Kevin Mehra said: “With the launch of our first Places Wines, we celebrate two of New England’s most beloved seaside destinations.
“We are lucky to call Massachusetts home and the fact that we can give back to local organizations doing amazing things for the residents of Nantucket and Martha’s Vineyard makes this opportunity even more exciting.”
16 May 2018
Pukka Herbs banned from naming its teas ‘detox’
Pukka Herbs has been prohibited by the UK Advertising Standards Agency (ASA) from advertising one of its tea products as ‘detox’ on the basis it breaches EU regulations on health claims.
Two complaints were made to the ASA about whether Pukka’s detox tea complied with EU regulation EC No 1924/2006 that considers nutrition and health claims for food.
Pukka responded to these complaints by saying it had been selling Detox tea since 2004 and as a result of selling and marketing its Detox tea before 2005, relevant authorities including the Trading Standards accepted its right to sell the product under that name until 2022 as per Article 28(2) of the transitional measures of the EU regulation.
The ASA decided to uphold the complaints against Pukka’s Detox tea. It did not accept that Pukka had registered the terms ‘detox’ or ‘Pukka detox’ had been registered as a trademark before 1 January 2005 and thus were not covered by the exemption in Article 28(2).
16 May 2018
Coca-Cola opens new juice line in Kenya
Coca-Cola has officially opened its new hot-fill juice line at its Embakasi plant in Nairobi with an investment of KES7bn ($69m).
The new plant was inaugurated by Kenya President Uhuru Kenyatta. Kenyatta noted that the new investment made under the Coca-Cola Beverages Africa (CCBA), compliments the nation’s Big Four Agenda.
He added that the agenda provides solutions to several problems that Kenyans have longed for answers for the past many years.
Kenyatta said: “Kenyans want a country that works for all of us: we want reasonably priced medical care; we want skilled jobs for our sons and daughters; we want to be entirely food secure, and we want dignified jobs for ourselves.”
15 May 2018
Irish Distillers acquires Eight Degrees Brewing
Ireland-based spirits and wines producer Irish Distillers has announced its acquisition of Eight Degrees Brewing for an undisclosed price.
The deal will ensure Eight Degrees Brewing provides long-term beer supply to support the continued global growth of Irish Distillers’ Jameson Caskmates.
Irish Distillers production director Tommy Keane said: “Jameson, which has been driving the growth of the Irish whiskey category for the past 28 years, continues to thrive and is now in double or triple digit growth in 80 markets across the world.
“One of our most successful innovations has undoubtedly been the introduction of Jameson Caskmates. Following a successful pilot test in the Irish market in 2014, Jameson Caskmates has had exceptional success since its launch, selling almost 200,000 cases into more than 40 markets last year.”
15 May 2018
Smooth Ambler to release Big Level Wheated Bourbon
US-based Smooth Ambler Spirits will release its new Big Level Wheated Bourbon in the US over the coming months.
Produced using a mixture of corn, wheat, and malted barley, Big Level Bourbon has been aged in 53 gallon barrels.
Smooth Ambler Spirits head distiller and CEO John Little said: “Much of what we’ve done at Smooth Ambler has been leading up to this moment.
“The release of Big Level signifies the beginning of our long-term ability to offer a third, important category of whiskeys to the US: those which are 100% made here in West Virginia.
“We’re excited for this whiskey to complement the merchant bottled and “married” (merchant and homemade blended together) families already embraced by our business.”
14 May 2018
Chateau Ksara unveils Merwah-based white wine
Lebanese winemaker Chateau Ksara has launched the first white wine to be produced only from Lebanese grape variety Merwah.
Usually Merwah grapes are blended with other grapes, such as Chardonnay or another Lebanese grape called Obeideh. Competing Lebanese winemaker Chateau Musar is well-known for wines produced with a blend of Obeideh and Merwah, including its Chateau Musar white.
The winery explained it has been experimenting with producing a wine made only with Merwah many years ago and they are now happy with the product, which will become an established part of the range.
Chateau Ksara Merwah has 12.5% alcohol by volume, is aged for one month and does not undergo oak treatment. It has aromas of citrus and white flowers, as well as some mineral notes. It tastes of tropical fruit with undertones of guava, lime and melon.