December 1, 2022
Ambev
Ambev Q3 Profit Beats Analyst Expectations
Brazil’s Ambev SA reported net profit for the latest quarter ahead of market expectations, driven partially by its domestic market. It also reaffirmed its outlook of revenue and EBITDA growth in the second half of the year ahead of the first half. Net income was 3.21 billion reais, down 13.4 percent on the year-ago period but well ahead of a poll of analyst forecasts of 2.48 billion reais. Net revenue was up 11.3 percent, with volumes 1.3 percent up. The company’s beer business in Brazil continues to be boosted by post-pandemic reopening, but Central America and Caribbean businesses struggled on raging inflation and supply chain problems. JPMorgan analysts foresee a strong Q4, buoyed by the Qatar Soccer World Cup.
Asahi
Asahi Breweries And Fever-Tree Partner In Japan
Fever-Tree, the U.K.-based premium mixer brand, has signed a partnership deal with Asahi Breweries in Japan to support its plan for growth in international markets. From January 2023, Asahi Breweries will distribute Fever-Tree’s Premium Indian Tonic Water, Mediterranean Tonic Water, Elderflower Tonic Water, Premium Ginger Ale, Premium Ginger Beer and Premium Soda Water.
Asahi Acquires StrangeLove, An Australian Premium Beverages Business
Founded in 2013, StrangeLove is an adult soft drink business that includes lines like Tonic No. 8, Lo-Cal Yuzu, Double Ginger, and premium Sparkling Waters. It can be found in high-end Australian restaurants and grocers, and at premium Woolworths stores. Robert Iervasi, Asahi Beverages Group CEO, says Asahi expects “StrangeLove to really shake things-up in the on-premise premium mixer and adult soft drink space, with a high-quality, Australian-made brand.” It plays to Asahi’s commitment to expand its multi-beverage alcohol and non-alcohol portfolio in Oceania. StrangeLove co-founder James Bruce said that Asahi’s expertise and customer relationships will provide StrangeLove with a platform for growth that it couldn’t access on its own.
Brands
Nama Jockey Cans Produce Foam Like Keg Beers
Asahi claims that its Super Dry Draft Jockey Can, when opened, generates a fine foam like you would find on a keg beer served in a bar or restaurant. When it first went on sale, it was soon temporarily suspended because it could not satisfy the number of orders. Asahi Breweries has now announced the launch of a larger size, from the original 340ml to the new 485ml. The new larger size foams at double the speed of the 340ml cans and the foam lasts longer.
Britvic
Britvic and Live Events Caterer Sign Partnership Deal
Birmingham, U.K.-based Amadeus, a caterer for live events, has struck a multi-year partnership and supply agreement with Britvic, the portfolio of which will be available to the entire Amadeus catering offering, including NEC Group venues in Birmingham and regional venues, such as Utilita Arena Birmingham and Resorts World Arena, Dudley Zoo and Cadbury World. Amadeus is part of the NEC Group and caters for seven million people a year at the five NEC Group venues and over 30 other venues across the UK.
Carlsberg
Carlsberg Launches Experimental Brews To Celebrate Its 175th Anniversary
Celebrating 175 years in the brewing business, Carlsberg is introducing several experimental beers, including a Brut Beer with Montrachet yeast and notes of yuzu, grapefruit and rose water; a Barrel Aged Lager using Danish whiskey barrels; and Wheat Lager from 100 percent wheat malt. Carlsberg says the Wheat Lager is “theoretically impossible.” All three brews are limited editions and available only in select markets.
Companies
A New El Tesoro Tequila Released To Celebrate 85 Years Of La Alteña Distillery
The legendary La Alteña Distillery in the highlands of Jalisco was opened 85 years ago. To mark the anniversary, El Tesoro™ Tequila has releasied the limited-edition El Tesoro™ 85th Anniversary tequila. El Tesoro Third Generation Master Distiller Carlos Camarena teamed up with Seventh Generation James B. Beam Distilling Co. Master Distiller Fred Noe. The barrels that were once used for Booker Noe's 30th Anniversary Bourbon were sent to Kentucky from Mexico. The casks retained the rich vanilla flavor favored by Fred Noe and Carlos Camarena. They were filled with El Tesoro Blanco, aged for at least 36 months and then tapped to produce the 85th Anniversary Extra Anejo. The 750ml bottle will be available from November 2022 in the U.S. for a suggested retail price of $499.99.
Hibiki® Blossom Harmony™ Blended Whisky Launched In The US
The House of Suntory has announced the release in the U.S. of Hibiki® Blossom Harmony™, a limited-edition blend, featuring whiskies finished in Sakura wood casks. It will be available from October in select markets including the U.S., U.K., Australia, Germany, France, Spain, Austria, UAE, Netherlands, Italy, Turkey, China, Hong Kong, Singapore, Taiwan, South Korea, Thailand and Vietnam. It’s 43 percent ABV with a suggested retail price of US$160. Fifth Generation Chief Blender Shinji Fukuyo said he has “been mesmerized by the Sakura cask for the last five years now due to its symbolism, but also because of its distinctive, subtly floral and spicy aroma and flavor notes.” Hibiki means "resonance" in Japanese. In addition to the Hibiki® Blossom Harmony™, House of Suntory is also making Hibiki 30 Year Old available in the U.S. It was first launched in 1997 as a rare limited edition but can now be bought in the U.S. for a suggested retail price of $5,000.
Limited-Edition Knob Creek Bourbon Honors Booker Noe's Legacy
Knob Creek® Bourbon announced a new, limited-edition bourbon. Knob Creek® 18 Year Old, in celebration of Knob Creek’s 30th anniversary and its Small Batch Bourbon Collection. It also honors Booker Noe, the grandson of Jim Beam, who introduced Knob Creek to the market. Fred Noe, Booker’s son and Seventh Generation Master Distiller, said the 18 Year Old Bourbon is “a nod to his vision and commitment to quality and craftsmanship.” The 750ml bottle is available nationwide in limited quantities at a suggested retail price of $169.
Suntory
Beam Suntory CEO Says Tequila Sales Are On Fire
Albert Baladi, CEO of Beam Suntory, says tequila is “one of hottest categories at the moment," and is attracting multicultural and younger consumers. Tequila sales volumes in the U.S. were almost 27 million (9-liter cases) last year, up from 22.7 million the year before. Baladi points to two global trends: premiumization and convenience, such as ready-to-drink cocktails. Tequila is becoming the alcoholic beverage of choice for younger consumers. A 2022 survey found that for to ready-to-drink alcoholic beverages, 70% of Gen Zers and 56% of millennials would choose tequila. The celebrity effect is important too, with Dwayne "The Rock" Johnson, Nick Jonas, Kendall Jenner, Michael Jordan and Rita Ora all participating in the category.
Suntory Unveils New Office In NYC
Suntory and its subsidiary Beam Suntory have celebrated the opening of their state-of-the art New York City office. It will also serve Beam Suntory’s global HQ. Tak Niinami, CEO of Suntory Holdings, said the new co-office will “represent a unique opportunity to fully realize our East-meets-West advantage and take our ambitions to the next level.” It covers an entire floor of 11 Madison Avenue and has been designed to display the company’s East-meets-West aesthetic.
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