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e - NEWS |
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March 19, 2004 |
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2. US: FDA Targets Unrealistic Calorie Labelling
3. US: Allied Launches Value Packaging Across Range
4. The Absolut Spirits Company Launches DANSKA Vodka Nationally
5. Grey Goose Advertising Soars: Ads Air on Golf Channel,
Bravo, E!, and Fox
Sports
6. US: Angostura Considers Taking Todhunter Private
7. U.S. Files WTO Case Against Mexico Over Soft Drinks
By Caroline
Brothers - Reuters
March
18, 2004
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PARIS (Reuters) - Pernod Ricard, the
world's third biggest spirits group, has reported a 12.3 percent rise in 2003
net profit, helped by lower financial charges and a capital gain from the sale
of bank shares.
The maker of Chivas Regal Scotch, Havana
Club rum and Jacobs Creek wines also on Thursday forecast growth in operating
profit excluding foreign exchange effects that hammered its sales last year.
Chairman Patrick Ricard said in a
statement he was satisfied with Pernod's full-year performance, and by the
improvement in profitability at its core wines and spirits branch.
"The group is therefore predicting
an increase in operating profit excluding currency effects for 2004," he
said.
However shares in the group, which
climbed sharply ahead of the results, drifted off 1.97 percent to 96.9 euros by
0858 GMT as investors took profits after the news. The stock has risen 10
percent this year, outpacing its peers by 2.5 percent.
Pernod, which gleans some 70 percent of
turnover from 12 key brands, has been divesting assets including its
distribution and fruit preparation businesses, to concentrate on its wines and
spirits labels.
That, plus negative foreign exchange
effects, pushed closely watched 2003 operating profit down 1.5 percent to 739
million euros (496 million pounds) -- bang in line with expectations from a
Reuters poll of 10 analysts.
Excluding those currency effects, which
cost the group 83 million euros, operating profit climbed 15.5 percent.
And it managed to lift its operating
margin in wines and spirits by 70 basis points to 21.5 percent, thanks chiefly
to powerful underlying growth.
"The results are in line, and even
slightly better than expected on the operating line," one London-based
analyst said. "That is probably due to the gain in leverage from their
very impressive results on the top line."
Chairman Patrick Ricard said in a
statement he was satisfied with Pernod's full-year performance, and by the
improvement in profitability at its core wines and spirits branch.
"The group is therefore predicting an
increase in operating profit excluding currency effects for 2004," he
said.
However shares in the group, which climbed
sharply ahead of the results, drifted off 1.97 percent to 96.9 euros by 0858
GMT as investors took profits after the news. The stock has risen 10 percent
this year, outpacing its peers by 2.5 percent.
Pernod, which gleans some 70 percent of turnover
from 12 key brands, has been divesting assets including its distribution and
fruit preparation businesses, to concentrate on its wines and spirits labels.
That, plus negative foreign exchange
effects, pushed closely watched 2003 operating profit down 1.5 percent to 739
million euros (496 million pounds) -- bang in line with expectations from a
Reuters poll of 10 analysts.
Excluding those currency effects, which
cost the group 83 million euros, operating profit climbed 15.5 percent.
And it managed to lift its operating
margin in wines and spirits by 70 basis points to 21.5 percent, thanks chiefly
to powerful underlying growth.
"The results are in line, and even
slightly better than expected on the operating line," one London-based
analyst said. "That is probably due to the gain in leverage from their
very impressive results on the top line."
2. US: FDA Targets Unrealistic Calorie Labelling
By Monica Dobie – just-drinks.com
March 17, 2004
As part of its strategy to fight the obesity epidemic
in the US, the federal Food and Drug Administration (FDA) is urging drinks
producers to include more realistic caloric intake listings on the labels of
their brands.
In particular, the FDA has called for calorie figures
to note the entire contents of a drink bottle or can as opposed to smaller
portions, because most people consume the product in its entirety anyway.
The FDA has also advised that calorie contents be
brought into sharper relief on labels by increasing font size and stating a
serving’s relation to daily caloric needs.
3. US: Allied Launches Value
Packaging Across Range
By Editorial Team – just-drinks.com
March 17, 2004
Allied Domecq has said it is introducing a range of value-added
packaging across its biggest brands in the US over the spring and summer.
The off-premise packaging programs are for Kahlúa, Malibu, Sauza, Courvoisier,
Canadian Club and Beefeater.
“Keeping the unique look and feel of each brand is
important when marketing Allied Domecq products to our customers and
consumers,” said Simon Hunt, senior vice president marketing, Allied Domecq
Spirits, North America.
“This spring and summer, Allied Domecq has created
fresh and attractive packaging to help inspire consumer purchase decisions,
expand our consumer base and help keep our premium brands top of mind with all
our constituents.”
Kahlúa will see the introduction in select markets of
a “Hispanic-focused” co-pack, pairing the 750ml bottle of Kahlúa and a 1L
bottle of Kahlúa Mudslide Mix. In California, the co-pack will pair the
750ml bottle of Kahlúa and a Kahlúa replica bottle shaker.
Malibu is bringing back the Malibu cooler jug program, helping to communicate
the miSauza Tequila sees a variety of Sauza Tequila brands, Sauza Hornitos,
Sauza Conmemorativo or Sauza Gold co-packaged with Sauza Original Margarita
Mix.
Courvoisier VSOP has a 750ml limited-edition
decorative bottle, uniquely designed with authentic gold print. Available
off-premise nationally beginning in April, the CV VSOP limited edition bottles
will be co-packaged with a 50ml bottle of Courvoisier XO in its distinct
traditional ‘drop of perfume’ shaped bottle.
During the month of June, Canadian Club will offer a
Father’s day VAP: with the purchase of a 750ml bottle of Classic 12, consumers
will receive a sleeve of golf balls and golf ball holder.
Beefeater 750ml bottles will be packed with either a
bottle of cranberry juice or tonic water (size varies by market
Other core Allied Domecq brands: Stolichnaya, Midori,
Kuya and Maker’s Mark will also be using various on- and off-premise POS items
such as table tents, in-store displays, recipe cards and in-store signage to
help promote their brands through the summer months.
4. The Absolut Spirits Company
Launches DANSKA Vodka Nationally
Press Release – Happy Hours
March 14, 2004
With Unique Flavors and Signature Metal
Bottle, DANZKA is 'Made to Chill'
The Absolut Spirits Company announced today the
national launch of DANZKA® Vodka, a smooth aromatic vodka rich in taste with a
distinct character of citrus fruit. In addition to its unique flavors of citrus
and grapefruit, DANZKA's signature is its proprietary metal bottle that is made
to chill vodka at optimal temperatures -- and literally keep vodka colder.
According to an evaluation conducted this past month
by an independent research institute, DANZKA's aluminum bottle chills 50
minutes faster than vodka in glass packaging and will retain cold 50 minutes
longer throughout an entire evening*. DANZKA is the only vodka in the world
offered in aluminum packaging, and available nationally in grapefruit flavor.
"As the vodka market continues to grow, DANZKA
provides The Absolut Spirits Company with the opportunity to build a brand and
business in the standard vodka segment," said Carl Horton, president and
chief executive officer, The Absolut Spirits Company. "We are aggressively
supporting the brand and are confident that DANZKA will capture the attention
of consumers and appeal to their unique tastes."
DANZKA vodka is made using an advanced production
process -- a combination of pure demineralized water, 100 percent whole-wheat
grain, continuous six- column distillation, and a triple-filtration system --
creating a crystal- clear vodka. It is made in one of the oldest distilleries
in Denmark.
DANZKA will be supported nationally with print
advertising, on- and off- premise POS, public relations and events. Print
advertising will consist of three executions highlighting DANZKA's "Made
to Chill" positioning in unique settings relevant to its target consumer.
In the U.S., DANZKA is available in three sizes: 50
ml, 750 ml and 1 liter. Internationally, DANZKA is ranked fifth in global
duty-free vodka sales.
*Test conducted by outside independent lab and
completed on February 10, 2004. Study compared DANZKA's 1 liter metal bottle to
a 1 liter glass bottle of vodka over the course of 6 hours. DANZKA lost 25
degrees, 50 minutes faster. It also took DANZKA 50 minutes longer to gain 25
degrees.
5. Grey Goose Advertising Soars: Ads Air on Golf Channel,
Bravo, E!, and Fox Sports
Source: Sidney Frank Importing Co. Press Release
March 18,
2004
NEW ROCHELLE, N.Y., /PRNewswire/ --
Grey Goose Vodka, the world's best tasting vodka, is soaring once more, this
time by increasing its cable broadcast presence. Beginning this month, the
vodka will premiere its advertising campaign on Bravo, E!, and FOX Sports. In
addition, Grey Goose ads will continue to run on The Golf Channel.
The campaign, created by DeVito/Verdi of New York, is
a series of ten : 15 second spots. The spots are a fresh and clever take on the
wisdom of bartenders.
The commercials are scheduled to air during such
programs as "Queer Eye for the Straight Guy," "Celebrities
Uncensored," "Wild On," "The Best Damn Sports Show,"
"Late Night Poker," and during Grey Goose's own "The Grey Goose
19th Hole" on The Golf Channel.
"Taking our ads to more cable stations was a
natural progression for us," says Lee Einsidler, Executive Vice President
of Sales & Marketing for Sidney Frank Importing Co., Inc., the owner and
importer of Grey Goose Vodka. "These spots tell our message -- Grey Goose
is the world's best tasting vodka -- in a fun yet sophisticated way. Grey Goose
fans -- and prospective Grey Goose fans -- will love them."
Imported from France and made with naturally-filtered
mineral water, Grey Goose is now the top-selling ultra-premium vodka in the
country. Grey Goose Vodka, Grey Goose L'Orange, Grey Goose Le Citron, and Grey
Goose La Vanille are 40% alcohol/volume and are owned and imported by Sidney
Frank Importing Co., Inc. of New Rochelle, NY.
6. US:
Angostura Considers Taking Todhunter Private
By Editorial Team - just-drinks.com
March 17, 2004
Todhunter International, producer and distributor of
the Cruzan line of rums from the Virgin Islands, today reported that it has received
from Angostura Limited, the company's majority owner, an offer to purchase
US$10m of newly-issued shares in itself.
Todhunter added that there remains a possibility it
may be offered the chance by Angostura to go private, although no such offer by
Angostura has yet been made.
A statement said that the share issue purchase price
will be the greater of the closing quotation of the company's stock on the
American Stock Exchange (AMEX) on the date immediately preceding the closing
date of the transaction, or the average of the closing quotations of the
company's stock on AMEX for the 30 days immediately preceding the closing date
Angostura will pay all of Todhunter International’s
normal expenses related to this transaction. The proceeds would be used by the
company principally to assist in the funding of the growth initiatives for
Cruzan Rum.
“The stock purchase is subject to approval of the
transaction by the Board of Directors of the Company. The Board has asked the
Special Committee of independent directors, previously formed to explore the
possibility of entering into a going-private transaction, to review the
fairness of the offer,” a statement said.
Meanwhile, at its Annual Shareholders' Meeting,
Jay S. Maltby, D. Chris Mitchell, and Edward F. McDonnell were re-elected to
the Board to serve terms through the date of the 2007 Annual Shareholders'
Meeting, and Michael E. Carballo was elected to the Board of Directors to serve
a term through the date of the 2006 Annual Shareholders' Meeting.
At the Board of Directors Meeting, the board
re-appointed Leonard G. Rogers, Donald L. Kasun and Edward F. McDonnell as
members of the Audit Committee.
7. U.S.
Files WTO Case Against Mexico Over Soft Drinks
By Ira Dreyfuss, Associated Press Writer
– Seattle Post-Intelligencer
March 16, 2004
WASHINGTON --
The United States on Tuesday accused Mexico of violating world trade rules by
imposing a 20 percent tax on soft drinks using any sweetener other than cane
sugar grown in Mexico.
In a complaint to the World Trade
Organization, U.S. Trade Representative Robert Zoellick said the tax is a
"discriminatory and protectionist" effort to lock out potentially
hundreds of millions of dollars in U.S. high fructose corn syrup.
In a separate dispute, a North
American Free Trade Agreement panel sided with the U.S. beef industry in its
complaint that antidumping tariffs Mexico imposed in 2000 on beef imports from
north of the border are unwarranted.
Mexico imposed its tax on
non-sugar sweeteners in 2000 after the WTO ruled that Mexican duties on
imported corn syrup violated international trade rules.
The Corn Refiners Association, a
U.S. trade group, has said that reopening the market could create annual syrup
sales worth $620 million and more than another $300 million in sales of corn to
be processed into syrup.
Corn state senators have been
calling on Mexican officials to stop imposing barriers to the exports but
Mexican lawmakers in December decided to keep the taxes in place.
Senate Finance Committee Chairman Charles Grassley,
R-Iowa, commended the U.S. action but said he will continue trying to get
Congress to impose retaliatory tariffs on Mexican tequila and other products if
the corn syrup tax is not removed.
In a press release Tuesday,
Mexico's Economy Department said it "remains open to reaching a negotiated
solution on the subject" and is "analyzing alternatives to resolve
the sugar dispute" while defending its laws.
Under WTO rules, a country filing
a trade complaint must next take part in informal consultations. If U.S-Mexican
consultations fail to resolve the issue in 60 days, the United States can
request that a WTO panel hear the dispute. The process, including time for
appeals by the losing side in the hearing, typically takes about 18 months.
In the beef case, a NAFTA panel
gave Mexico 90 days to review tariffs of up to 80 percent it imposed on U.S.
beef in 2000 after complaining that American producers were illegally selling
it at below-market prices south of the border.
The NAFTA panel said Tuesday that
the Mexican government had not shown Mexican businesses were hurt by the
imports.
Richard Fritz, vice president for
trade development at the U.S. Meat Export Federation, a Denver-based trade group,
said the next step is for Mexico to review the legality of its tariffs. In the
meantime, nothing will change.
Eventually, the case might wind up
before the WTO, said Gregg Doud, chief economist for another trade group, the
National Cattlemen's Beef Association.
"This has been an
unbelievable nightmare," Doud said, describing the four years that the
case has dragged on.
A Mexican government statement
complained that the United States had imposed barriers to imports of Mexican
sugar, and said the Mexican tax on sweeteners must be considered in that
context. The statement said Mexico has been trying to reach a negotiated
settlement with the United States on sweeteners in general.
