TWE slashes growth predictions as US business stalls

Treasure Wine Estates (TWE) has cut its predictions of growth for 2020 from between 15% and 20% to between 5% and 10% after its first half-year figures were released yesterday.

BIVB becomes WSET patron

Educator to the wine industry, The Wine & Spirit Education Trust (WSET), has new backing in the form of Burgundy’s official wine board.

Vinexpo and Comexposium join forces

Leading global wine event organisations Vinexpo and Comexposium are to join forces in a new body.

London restaurateurs call for wine duty cut

Spirits drive UK exports to China

Sales of UK spirits to China are up 35.5% year-on-year in the first half of 2019, a new report from the Food and Drink Federation has revealed.

Wine Source Group to fuel growth with private equity funding

Private equity fund Saphir Capital has taken a majority stake in international fine-wine supplier Wine Source Group.

Hillebrand launches eco-friendly 40ft flexitank

Hillebrand has unveiled a new 40ft flexitank that can sustainably transport non-hazardous liquids worldwide in temperature-controlled conditions.

Government hit by fall in wine-duty revenues

Wine duty receipts fell back 2.1% in the first six months of the financial year, according to data released by the government.

New global PR partnership announced

Three food-and-drink PR agencies from across the world have partnered to create a global network to support their clients’ international needs.

Jerry Lockspeiser: Why would anyone invest in a start up?

I recently received an invitation to invest in the BIB Wine Company. They are crowdfunding on the Seedrs platform, one of the UK’s major players in this market. BIB summarise their pitch as:

Government backs down on VI-1 forms

The government has agreed to temporarily suspend the introduction of forms which were feared to create an extra layer of red tape for the wine industry in what is shaping up to be an increasingly disorderly Brexit.

At the 11th hour, how will a no-deal Brexit affect the wine trade?

As the UK fruit and vegetable harvest gets into full swing in the looming shadow of Brexit, headlines such as The Guardian’s ‘Tonnes of crops left to rot as farms struggle to recruit EU workers’ are becoming commonplace.

Pernod Ricard consolidates business in France

French giant Pernod Ricard is consolidating in an effort to cut costs after it emerged that sales in France have fallen by €60 million (£53.4 million) over the past two years.

Scottish MUP policy curbs drinking, study shows

Minimum unit pricing (MUP) in Scotland has reduced alcohol consumption in some households, a study published in the British Medical Journal has found.

Benchmark in global push on back of new funding

London-based Benchmark Drinks has won new finance to fund international expansion.

Profits up at TWE as premiumisation drive pays off

Profits at Treasury Wine Estates leapt 16% over the last year, driven by the group’s focus on premiumisation.

Majestic sale confirmed

The sale of Majestic Wine to US private equity firm Fortress has been confirmed.

Scottish government calls for post-Brexit protections for whisky

Scotch whisky must retain its current protected status if the UK leaves the EU without a deal, Fergus Ewing, the Scottish government’s secretary for the rural economy, has said.

Bacardi and Brown-Forman end longstanding UK sales partnership

Bacardi and Brown-Forman are to end their UK collaboration, the companies have revealed.

Brexit costs rising across trade, new WSTA report reveals

The UK drinks industry is investing heavily to counter the risk of a no-deal Brexit, a new survey of its members by the WSTA has revealed.