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Osaka, Japan-based Suntory Holdings Ltd. and Deerfield, Ill.-based Beam Inc. jointly announced that they have entered into a definitive agreement under which Suntory will acquire all outstanding shares of Beam for $83.50 a share. This translates to a total consideration of approximately $16 billion, including the assumption of Beam’s outstanding net debt. The transaction consideration represents a 25 percent premium to Beam’s closing price of $66.97 on Jan. 10, 2014; a 24 percent premium to the volume-weighted average share price during the last three months; and a multiple of more than 20 times Beam’s earnings before interest, taxes, depreciation and amortization for the 12-month period that ended Sept. 30, 2013.
Deerfield, Ill.-based Beam Inc.’s Sauza Tequila brand partnered with actor and pop music artist Justin Timberlake to launch Sauza 901 super-premium tequila. The new product builds off of Timberlake’s previously launched 901 Silver Tequila and incorporates the same spirit under the Sauza brand name. The co-branded partnership blends the creativity and personality of the 901 brand’s founder, Timberlake, with the quality and history of Sauza Tequila to craft a lifestyle spirits brand.
Norwalk, Conn.-based Diageo will expand its relationship with rap artist and entrepreneur Sean “Diddy” Combs to acquire the luxury tequila brand DeLeon.
Viña Tarapacá released its line of Gran Reserva Chilean wines in the United States.
Domestic table wines dominate the wine scene in restaurants, bars and other on-premise locations, according to Technomic's 2013 BarTAB Report.
Brown-Forman Corp., Louisville, Ky., reported financial results for the second quarter and first half of its fiscal-year 2014, which ended Oct. 31. In the second quarter, the company’s reported net sales grew by 6 percent to nearly $1.1 billion and reported operating income grew 19 percent to $311 million compared with the prior-year period. For the first six months of the year, reported net sales increased 4 percent and reported operating income increased 9 percent.
Premium adult beverages are providing momentum to the on-premise channel, according to Chicago-based Technomic Inc.’s 2013 BarTAB Report. Although the channel is slowing overall as consumers control their spending, higher-priced spirits and beers are growing in restaurants and bars, Technomic reports. In 2012, the on-premise channel grew in 0.7 percent in total volume to reach 1.9 billion gallons, and sales rose 3.5 percent to $97.3 billion, it reports. However, Technomic projects there will be slight declines in volume but continued dollar growth in 2013 and 2014.
Heaven Hill Distilleries Inc., Louisville, Ky., opened a new $10.5 million artisanal distillery to bring tourism and a unique brand experience for Evan Williams drinkers to the area. The Evan Williams Bourbon Experience opened to the public on Nov. 15. The new artisanal distillery and tourism experience is officially the eighth stop on the Kentucky Bourbon Trail tour and the first stop in Louisville.
Wild Turkey, a brand of San Francisco-based Campari America, is bringing back its Wild Turkey 101 Rye. After an absence from the market for approximately a year because of the unexpected high demand, the Kentucky straight rye whiskey is returning to bars in select markets this month.
In celebration of International Pineapple Day on April 2, Bahama Breeze locations across the country invited the media and consumers to celebrate with cocktails that feature the tropical flavor of the pineapple. (Photos by Liz Parker and Jennifer Haderspeck)
Available On Demand Learn how to reduce costs and energy use by enabling high oil load emulsions, eliminating the need for weighting agents like brominated vegetable oil (BVO).
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