Top Whisky for Sale
Glenmorangie, reportedly the best-selling malt Scotch whisky in the United Kingdom, announced its main shareholders are looking for a buyer of their more than 50 percent stake in the company. In 2000, the company formed partnerships with Bacardi and Brown-Forman, which already has a 10 percent stake in the company, to develop its international business. Reports predict that both companies are likely to take an interest in the offering. With Glenmorangie volume hitting the 2 million case mark, the brand is estimated to be worth £300 million. BI
Heineken buys Russian group
Heineken recently acquired Central European Brewing Co. in Russia, which has a majority stake in shares of Shikhan Brewery in Sterlitamak and 100 percent ownership of Volga Brewery in Nizhny Novgorod. Heineken’s purchase of the brewing group gives it a 5.9 million hectoliter boost and bumps it into third place among brewers in Russia, a market in which analysts expect volume growth of 7 percent this year. In line with Heineken’s business strategy, the Shikhan Brewery produces three local beer brands in addition to soft drinks, and the Volga Brewery concentrates its production on three beer brands. Heineken is reportedly planning to upgrade both facilities to increase production as part of its plan to head off Russian brewers with expanding sales in Europe. BI
Coors wins in Colorado
Colorado GOP candidate Peter Coors, Coors Brewery chairman, beat former congressman Bob Schaffer in the state’s primary election for the U.S. Senate. Coors had a majority of the votes, at 61 percent, and Schaffer came in with 39 percent of the votes after 85 percent of the precincts reported results last month. The bitter campaign prior to the election involved ads that questioned Coors’ position on banning gay marriage and lowering the drinking age. The ads were created by conservatives loyal to Schaffer.
Analysts predict that this year’s race for the senate in Colorado could be the most expensive in the state’s history as each party is expected to shell out as much as $6 million to win. BI
Hardy Wine Co. in southern Australia is planning a more than $11-million redevelopment of its Tintara Winery at McLaren Vale. The investment will double the number of open fermenters and basket presses as well as improve grape-receiving areas. Additionally, a historical display is being created as part of the renovation. Since 1861, the Tintara Winery has produced Chateau Reynella and Tintara branded wines. BI