Beam Suntory has chosen not to be drawn on a report claiming a portfolio consolidation is on the cards.
Citing “people with knowledge of the matter”, Bloomberg said last week the group is in the process of appointing a bank having “reached out to some potential buyers independently”. Among the brands referenced in the report as being considered for divestment are Pinnacle Vodka and “other vodka businesses and liquor assets such as Cruzan Rum”.
When contacted by Global Drinks Intel, a spokesperson for Beam Suntory said: “As you can expect, we don’t comment on rumours or speculation.”
The company’s current vodka footprint comprises Pinnacle alongside the Effen and Haku brands, with the former retailing in the US at between US$9.99 and $12.99 per 75cl bottle. Effen [$19.99-21.99] and Haku [about $30], meanwhile, are considerably more expensive given their imported status from The Netherlands and Japan, respectively.
Cruzan, meanwhile, is Beam Suntory’s only presence in rum, with its white expression retailing at around $13 in the US.
Earlier this month, the company confirmed a number of senior executive changes, which included a job swap for the North America president, Greg Hughes, and president of brands Jessica Spence.
How will economic headwinds affect premium white spirits? – Category Intel
