Business & Finance - Harpers Wine & Spirit Trade News

UK inflation decline prompts interest rate uncertainty

Published: 18 April, 2024

UK inflation slowed less than expected last month, despite the rate of price increases falling below that of the US for the first time in two years.

Nyetimber to buy The Lakes Distillery in £46m deal

Published: 03 April, 2024

English sparkling wine producer Nyetimber has agreed a deal in principle to buy The Lakes Distillery in a £46.1m deal.

Fine wine market shows signs of recovery

Published: 02 April, 2024

Signs of economic recovery are starting to appear in the fine wine market after a year of consistent declines. The industry benchmark, the Liv-ex 100 index, has been in freefall since March 2023, dipping 14.6%, whilst the broader Liv-ex 1000 index has fallen 15.3%.

WSTA takes aim at Gareth Davies on duty

Published: 26 March, 2024

The government is using public health arguments as a “thin veneer to maintain market distortions” Miles Beale, chief executive of the WSTA, has said in a rebuttal of the claims made by Gareth Davies at the Westminster Hall debate earlier this month.

Majestic ‘exploring’ purchase of Vagabond Wines

Published: 21 March, 2024

The UK’s largest wine retailer, Majestic, has confirmed it is “exploring a deal to purchase all or part of the Vagabond Wines business”.

Naked Wines hires debt advisers Interpath

Published: 18 March, 2024

Online wine retailer Naked Wines has hired debt advisers to explore refinancing options amid financial difficulty.

Alcohol duty frozen till February 2025

Published: 06 March, 2024

The government dashed hopes of a cut to alcohol duty following the announcement of the Spring Budget today (6 March) by chancellor Jeremy Hunt.

Inflation drains Treasury coffers by £600m

Published: 21 February, 2024

Soaring alcohol inflation has made an explosive hole in HMRC’s receipts, new figures reveal.

Accolade Wines taken over by consortium

Published: 05 February, 2024

Accolade Wines, Australia’s second-largest producer, has been taken over by a consortium of investors led by Bain & Co, the US-based management consulting company.

Caring to sell The Ivy Collection for £1bn

Published: 29 January, 2024

Billionaire restaurateur Richard Caring has put his £1bn stake in The Ivy and its spin-off restaurants up for sale.

US becomes Fever-Tree’s biggest market

Published: 25 January, 2024

Mixer producer Fever-Tree saw its total revenue rise by 6% in the year-end 31 December 2023, a figure below market expectations.

D&M achieves record Christmas sales

Published: 17 January, 2024

Drake and Morgan, operator of 17 premium bars and restaurants in London and Manchester, has announced record festive trading with like-for-like sales up 31.7% against the same period in 2022 (4 weeks to 31 December 2023).

2023 Champagne shipments down 8.2%, 'as expected'

Published: 15 January, 2024

Le Comité Interprofessionnel du vin de Champagne (CIVC), the organisation grouping the actors of Champagne production and trade, has revealed that total Champagne shipments in 2023 were down 8.2% to 299m bottles.

BWS Christmas sales down for UK multiples

Published: 11 January, 2024

Despite record spend on groceries during Christmas in UK supermarkets, sales of beer, wine and spirits were all in decline over the same period.

WineCap cautiously optimistic for 2024

Published: 11 January, 2024

Following news that the Liv-ex Fine Wine 100 Index ended 2023 down 14.1%, WineCap has outlined its expectations for the year ahead, amid a ‘correction phase’ which might present opportunities for investors.

Liv-ex 100 closes 2023 down 14.1%

Published: 09 January, 2024

After several years of enjoying relative immunity to the surrounding socioeconomic turmoil, the fine wine sector finally succumbed in 2023, suggesting investments are not as fail-safe as they once were.

Majestic announces best-ever Christmas trading

Published: 09 January, 2024

Wine retailer Majestic has announced its best-ever Christmas trading performance, boosted by six new store openings in 2023 and its growing B2B division, Majestic Commercial.

British alcohol sales rise in CPTPP countries

Published: 04 January, 2024

Sales of British alcohol products such as English sparkling and Scotch whisky are on the rise in the Indo-Pacific region, the UK government has announced.

Scottish hospitality businesses denied rates relief

Published: 20 December, 2023

Following months of campaigning, leading hospitality bodies are ‘extremely disappointed’ with yesterday’s Budget announcement in Scotland.

Hallgarten acquired by Coterie Holdings

Published: 19 December, 2023

Hallgarten & Novum Wines has been purchased by Coterie Holdings, joining Lay & Wheeler, bonded warehousing Coterie Vaults and wine lender Jera in a growing fine wine portfolio.