Skinnygirl cocktails -- the lower-cal brand of spirits founded by a Real Housewife of New York -- was the fastest growing brand of spirits in the US last year, posting a 388 percent sales increase according to a new booze industry report.
Diageo plc (ADR) (DEO) announced today that it is offering to increase its stake in Indian spirits-maker United Spirits Ltd., for around $1.9 billion. The world’s largest spirits company, which markets brands such a Johnnie Walker whiskey and Smirnoff vodka, said that it would pay 3,030 rupees ($50) a share for an additional 26% stake in United Spirits.
By Chris Katje: On Monday, Beam Incorporated (BEAM) announced their acquisition of specialty vodka brand Pinnacle. Along with Pinnnacle, the company also acquired the Calico Jack rum brand. Both liquor brands were purchased from White Rock Distilleries. The move will cost $605 million for Beam, but will grow its vodka line and market share. The acquisition now extends Beam's Vodka line to include:
Hybrid foods aren't stopping at cronuts and ramen burgers—they're coming for your cocktails next. Over the last year and beyond, craft distilleries and established high-end liquor brands alike have successfully marketed hybrid spirits.
General Motors Company (GM), the largest auto maker in the US, traded 1.2% lower as of 11:31 am EST amid the release of lower-than-expected monthly sales for October. The automaker posted 0.2% year-over-year (YoY) higher sales to 226,819 units, missing analysts ‘expectation forecast growth of 2.9%, posting best ever October sales since 2007.
Cal-Maine Foods Inc (CALM), the largest producer, marketer, and distributor of fresh shell eggs in the US, announced its earnings for the first quarter of its fiscal year 2015 (1QFY15).
Cal-Maine Foods’ adjusted per-share earnings (EPS) came in at $1.140, missing analysts' estimate of $1.165. This is the company’s first quarter to miss earnings, after beating the earnings estimates for the past two consecutive quarters.
Flavored booze. "Millennials" dig it, "purists" hate it, and now the CEO of one of America's most iconic spirits has weighed in. Paul Varga, the chief executive of Brown-Forman, says that drinkers can expect the Jack Daniel's brand to remain "conservative."
Alex Morris submits: Cal-Mine Foods (CALM), which is engaged in the production, grading, packaging, marketing, and distribution of shell eggs, recently reported earnings for the first quarter of fiscal 2010, which ended February 27th. Net income for the quarter came in at $34.5 million, or $1.45/share, beating analyst estimates (consensus $1.34/share) as well as topping the $1.30/share earned during the same period last year by 12%.