The briefing on the latest beverage developments
The news and data you need to know about the industry
Mezcal regulatory body fined by Mexican government
The Consejo Regulador del Mezcal (CRM) has been fined almost one million pesos (£33,500) by the Mexican government. The CRM was accused of spreading false and misleading information in relation to a PR campaign which ran with the tagline: ‘If it doesn’t have a CRM hologram, it isn’t mezcal’. Mexico’s Secretariat of the Economy stated that the campaign implied that the CRM had the sole right to certify mezcal under the Denomination of Origin (DO) for the spirit, which it does not.
Campari finally completes Amsterdam move
Davide Campari-Milano SpA has completed the transfer of its legal office to Amsterdam and is now formally known as Davide Campari-Milano NV. Although it is now subject to Dutch company law, the aperitif and spirits group will retain its head office and management facilities in Milan, with production sites unaffected. Its stock market listing will also remain in Milan. The legal switch was made for what the company called long-term strategic objectives, including facilitating takeovers.
Diageo echoes Pernod Ricard with carbon free distillery pledge
The Johnnie Walker owner said yesterday that the new Bulleit Bourbon distillery in Kentucky will be fully powered by renewable electricity. The site, which was first announced in 2018, is expected to be fully operational by next year. In February, Pernod revealed plans to turn one of its Scotch whisky distilleries into a carbon-neutral site.
Swedish oat drink company Oatly has secured $200m equity investment in a funding round led by Blackstone Growth. The investment will be used for business expansion in current markets. Oatly also has plans to develop production plants in the US, Europe and Asia.
Constellation Brands has unveiled plans to invest $100m over the next ten years in BIPOC-owned businesses. The donation follows a similar $20m pledge from Diageo to improve representation and financial commitments from other beverage companies.
According to a report by Jon Moramarco, managing partner of consulting firm bw166 and editor of the Gomberg-Fredrikson report, volume sales of Californian wine from March 2020 to February 2021 are expected to fall by 9.21 million nine-litre cases, equating to a loss of $437m for growers. Moramarco said that off-premise retail and winery cellar door and online sales will not be able to make up for on-premise losses.