Russia’s second biggest importer of French wines has announced the imminent bankruptcy of five of its companies, prompted by the collapse of the ruble.
UK off-licence group Conviviality Retail has expanded its portfolio with the acquisition of 37 new stores in a deal worth £6 million
Diageo’s overall revenue fell flat in the first half, with the continued slowdown in China, Russia and North America hampering its efforts to return to growth.
The Scotch whisky industry is now bigger than the UK’s iron and steel, textiles, shipbuilding and computing industries, contributing £5 billion to the UK economy each year.
Diageo has warned suppliers that it will in future take three months to pay its bills, increasing its payment contract from 60 to 90 days.
Millennials are driving premiumisation in the wine trade, but producers are struggling to take advantage of increased demand, according to Rabobank.
Bordeaux has found a level at which buyers are prepared to return to the market and is beginning to outpace Burgundy and Champagne, says Gibbs.
Outside investment and a focus on the high-end wine market helped Oregon winemakers boost revenues by 49% between 2010 to 2013.
AB InBev has been blasted by the UK’s business minister for making suppliers wait up to four months for payment, branding its terms “entirely unacceptable”.
The owner of Irish cider brand Magners has warned its operating profits will be €10m lower than expected after a near 10% drop in sales in England and Wales.
© 2015 Union Press Ltd | Unit 122, 30 Great Guildford Street, London SE1 0HS, UK | Registered in England and Wales No. 03606414 | Tel: +44 (0)20 7803 2420