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Credit: Just Drinks

Britvic’s board today (8 July) threw its weight behind an improved takeover offer worth £3.3bn ($4.2bn) from brewing giant Carlsberg. 

The bid was the third the Danish brewer had made for the UK soft-drinks group, which said last month it had rejected two previous offers. 

In a separate announcement, Carlsberg said it had agreed to acquire Marston’s 40% stake in their brewing joint venture Carlsberg Marston’s Brewing Company (CMBC) in the UK. 

On 21 June, it was revealed Britvic had turned down two multi-billion-pound takeover bids from the Tuborg brewer that month. 

Announcing the acceptance of its latest bid today, Carlsberg said it intends to “accelerate commercial and supply chain investments in Britvic, driving the future growth trajectory of the business”. It will create a single integrated beverage company in the UK, to be named Carlsberg Britvic.

Treasury Wine Estates has revealed plans to divest wines sitting under its so-called “commercial” portfolio. 

Wines including Wolf Blass and Yellowglen, both acquired in 1996, Lindeman’s, snapped up 2005, and Blossom Hill, bought in 2015, are to be handed off, according to an ASX filing. 

In the Australian group’s fiscal 2024, these “commercial” brands made up under 5% of the company’s gross profit. 

TWE has been focusing in on its premium brands unit for some time. In June, the group said it had formed a new team focused on revenue growth into its premium-brands division to “unlock” growth. 

Meanwhile, on 15 August, TWE announced plans to restructure its premium wine brands unit. The Penfolds producer said it planned to merge its Treasury Premium Brands (TPB) and Treasury Americas (TBA) unit into a new Global Premium Brands (GPB) division. 

The move is expected to be completed by July next year.

Constellation Brands is building a Tequila distillery in Mexico to produce its Casa Noble and Mi Campo brands. 

The distillery is set to be completed by 2026. 

Organic brand Casa Noble, acquired in 2014, and Mi Campo, bought in 2018, are produced at a third-party distillery in Mexico. 

“Because of the Tequila trend we’re growing [in the category]. We also wanted to do things our way and have our own infrastructure, so we will be building a new distillery,” Michele Tuveri, Constellation’s head of advocacy and regional spirits sales in EMEA, told Just Drinks. 

While the company may look to grow volumes for Mi Campo, Tuveri said: “We want to keep (Casa Noble) small and premium.” 

Casa Noble’s Tequilas are made with 100% blue weber agave. Its range includes a blanco, a reposado, an añejo and a special-release “ultra-premium” SKU called Marques De Casa Noble.

Spain’s Minister of Health has drafted a law limiting alcohol advertising and wider alcohol exposure to under 18s that has been approved by the government. 

The Ministry of Health said the law would establish a “comprehensive framework to protect the health of minors and promote responsible alcohol consumption in society”. 

It aims to “delay the age of [drinking] onset, protect against the consequences of consumption and reduce episodes of intensive consumption in this vulnerable group”. 

The law will limit adverts near schools and equivalent educational centres, as well as parks and other places designed for children. This applies to 0.0% abv drinks, too, the ministry said. 

Adults will also be prohibited from consuming alcohol at events that are intended for under-18s, including concerts and children’s sports fixtures. 

Similarly, there will also be restrictions on television advertisements, which may not use the image or voice of persons under 21 years of age or pregnant women.

Australian Vintage, home to wine brands including McGuigan and Tempus Two, has set out a bid to improve its cash-flow and return on capital with changes to its sales strategy. 

In recent months, the company has been looking to raise capital and lower its debts, efforts that have included a share offer and asset sales. 

The group has also gone through some significant changes at senior level, with the departure of its CEO and new appointments to its board. 

Australian Vintage said it generates around two-thirds of its revenue from “export-related markets” but said where it does business is “challenged by deep competitor discounting”. 

Nevertheless, the company said it has identified “a number of revenue growth opportunities within those markets that it is currently not accessing”. 

It plans to “invest inventory into markets and categories, without discounting pillar brands, where it currently does not compete due to high competitive discounting”.