Word: diageo
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Dates: during 2000-2009
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...Both cut their teeth in the liquor industry - Galsworthy as a sales-and-export executive with Fullers Brewery and Hall as a strategist with Diageo - before setting up their new independent distillery label, Sipsmith. Their knowledge of the drinks business, combined with a passion for distillation, helped them spot a niche in the U.K. market for microdistilleries producing small-batch artisanal spirits. "We wanted to bring back the art of handcrafted spiritmaking," says Galsworthy. "So we developed a business plan, quit our jobs, sold our houses and went on the hunt for the first distiller's license granted in London...
That's why Bacardi paid $2.2 billion in 2004 for Grey Goose, then a record for a single label, and why distillers are releasing new vodkas each week. Leading the field is Smirnoff, owned by Britain's Diageo, which dropped out of the Absolut bidding to buy a 50% stake in the Dutch premium vodka Ketel One for $900 million...
...acquisition of V&S brings Pernod Ricard closer than ever to its goal of catching Diageo. The combined company will have global sales of 91 million cases, compared with Diageo's 93 million. Absolut alone will propel Pernod Ricard from fourth place to second in the North American market, with a 14% market share, compared with Diageo's 26%. Can the former pastis family business become the global drinks leader? The banks that financed the deal in a difficult market show that for some, at least, the answer to that question is Absolut...
...India, and the Scotch Whisky Association (SWA) have been doing a brisk trade in bitter remarks, each charging the other with unfairly blocking its exports. Hardly the spirit, given that "scotch whisky is enjoying its best growth prospects for a generation," according to Alberto Gavazzi, global brands director for Diageo, the producer of Johnnie Walker...
Mallya isn't the only one expanding. William Grant & Sons, owner of Glenfiddich single malt, plans to build a new distillery, as does Bruichladdich on the island of Islay. In February, Diageo announced plans for a $200 million distillery and other facilities in Scotland, and the firm may double its investment if demand in emerging markets pans...