Industry briefing
The latest news, trends, and data you need to know about this month
In numbers
$16m
Series D funding raised by X2 Performance, a non-carbonated energy drink brand, with celebrity investors including New York Giants running back Saquon Barkley.
$5m
The amount drinks investment group Distill Venetures will invest over the next 12 months as part of a pre-accelerator programme to support early-stage entrepreneurs from underrepresented groups.
4,600%
Increase on investment a British investor made on two casks of whiskey. Roger Parfitt made £225,000 selling the whiskey, which he bought for £4,700 27 years ago.
11
The number of economy brands Molson Coors Beverage Co is culling as part of its premiumisation push.
$2.5m
Investment secured by cocktail company Curatif from a consortium of private investors as the company pushes into the canned cocktails market.
Appointments
Constellation Brands appoints US cannabis lobbyist
Constellation Brands has named a public affairs executive to spearhead lobbying efforts on cannabis. The multi-category alcohol brand owner, which operates a cannabis joint venture with Canada’s Canopy Growth, appointed Liz Lopez as VP for public affairs. Among several roles, Lopez will serve as Constellation’s lead in government relations issues related to cannabis policies in the US.
Chapel Down Winery names Chase Distillery MD as next CEO
Chapel Down Winery has appointed the managing director of UK spirits producer Chase Distillery to replace its long-standing CEO. Andrew Carter will take over from Frazer Thompson on 13 September, Chapel Down announced today. Thompson has been in the post since 2001.
Hotaling & Co recruits former Treasury Wine Estates executive for CFO role
Hotaling & Co has appointed Lauren DeStefano as its next CFO. DeStefano, an 11-year industry veteran, assumes the position with the San Francisco-headquartered distributor this month. Most recently, DeStefano served as Treasury Wine Estates’ commercial finance VP as part of a three-year stint with the company.
Product launches
Rock N Roll Tequila: Strawberry Tequila
Category: Spirits, Tequila, flavoured, 32% abv
Available: From August
Location: Retailers in selected US states, the Caribbean and online
Price: SRP of $44.99 per 75cl bottle
Rock N Roll Tequila has launched a new strawberry flavoured expression, which uses 100% blue weber agave as well as strawberry flavourings. The iteration, packaged in the brand’s guitar-shaped bottles, will be available in Florida, Rhode Island, Oklahoma, Massachusetts and New Jersey, throughout the Caribbean and via the company’s e-commerce website.
Diageo: Tequila Don Julio Primavera
Category: Spirits, Tequila, 40% abv
Available: From August
Location: US, available through selected off-premise outlets and online
Price: SRP of $99 per 75cl bottle
Diageo’s North America unit has rolled out a new expression from Tequila brand Don Julio, a year ahead of schedule. Don Julio Primavera uses the brand’s Reposado Tequila finished in orange wine casks. The division confirmed that 15,000 nine-litre cases are available from selected US retailers ahead of a wider roll-out planned for summer 2022.
Suntory Holdings: Jim Beam Cola Highball
Category: RTD, spirits-based, 6% abv
Available: From 21 September
Location: Japan
Price: SRP of JPY160 ($1.45) per 35cl can
Suntory Holdings has added a cola flavour to its range of Jim Beam ‘highball’ premix RTDs in Japan. The new variant expands the Jim Beam Highball line, which was the first innovation to come from Suntory’s takeover of Jim Beam owner Beam Inc in 2015. The RTDs were first launched in Japan in 2016, and now include a lemonade version, released earlier this year.
Dos Déus: Spanish Vermouth
Category: Vermouth, Spain
Available: From August
Location: US
Price: SRP of $24.99 to $34.99 per bottle
Spanish Vermouth producer Dos Déus has lined up the US roll-out of its namesake Vermouth brand. The Catalonia-based company has partnered with Chopin Imports for marketing and sales in North America. The range comprises Dry White Vermouth Reserve, White Vermouth and Red Vermouth Reserve. The red expression is aged in Sherry and Priorat barrels for six months ahead of blending.
