allied domecq
principal divisions: allied domecq spirits & wine; allied domecq retailing; allied domecq spirits, usa; allied domecq retailing, usa; allied domecq leisure; allied domecq inns; allied domecq restaurants and bars .
allied - lyons went on to become allied domecq, which was eventually bought by pernod ricard in 2005 .
allied domecq share price. allc - stock quote, charts, trade history, share chat, financials. allied domecq ord 25p (assd pernod max shares )
the name allied lyons lasted until the group’s takeover of spanish brandy and sherry producer pedro domecq during the 1990s, when it subsequently changed its name to allied domecq .
allied domecq plc history, fundinguniverse. com. accessed 02 / 10 / 2013 .
allied shareholders are being offered 545p in cash, and 0. 0158 of a new pernod ricard share for every allied domecq share .
earlier this week, spi said it had appointed hsbc to consider its options if allied domecq was sold .
allied domecq was a donor to the science media centre in 2004 according to the smc. [ 4 ]
after allied - lyons' transition into allied domecq, the company decided to focus solely on its spirits, wine, and retailing operations. the food manufacturing holdings were divested in 1994 and 1995, except for the company' s 50 percent interest in panrico, a spanish bakery business. the remaining holdings were separated into two divisions: allied domecq spirits & wine, and allied domecq retailing .
allied domecq is to recommend a £7. 4bn takeover by pernod ricard. the allied board agreed the deal in advance of today' s interim results ...
also likely to end up on the block will be allied domecq' s restaurant brands dunkin' donuts and baskin - robbins .
the spirits & wine division also spent time restructuring its spirits business in the united states, so as to cut costs and make its operations more efficient. the sales, marketing, and administrative operations of hiram walker and allied domecq' s import arm (domecq importers) were combined, with allied domecq spirits, usa being the result .
business: the company file - - buffett takes a sip of allied domecq ,
bbc news, may 18, 1999 .
richard wray, £7. 4bn takeover for allied domecq, the guardian, 21 april 2005. accessed 02 / 10 / 2013 .
allied domecq started life as a conglomerate of breweries, but over the years divested its brewing business to focus more on its rapidly growing spirits portfolio, which included teacher’s, ballantine’s and laphroaig. its business strategy resulted in allied domecq becoming the world’s second - largest spirits group .
drinks giant allied domecq is to be swallowed up by pernod ricard of france in a £7. 4bn takeover deal. shareholders will receive 545p in cash and 0. 0158 of a new pernod ricard share for every allied domecq share they already hold. they will also get the 6. 5p a share dividend announced today with allied’s interim results .
the deal with allied domecq has a change of control clause that gives spi the power to pick another distributor if its partner is taken over .
goodway, nick ,
talk grows of deal between spirits firm allied domecq and pernod ricard ,
evening standard, june 1, 1999 .
allied domecq also sold off its tea and coffee interests in 1996, including tetley tea and lyons irish tea. tetley was sold to karand limited and the lyons tea business was transferred to unilever, ireland. also divested was allied domecq' s 50 percent interest in the carlsberg - tetley joint venture .
several of allied domecq' s brands could present serious competition problems. putting allied' s courvoisier with pernod' s martell brand, for instance, would give the company well over half of the cognac market in britain .
meanwhile, allied domecq' s retailing division was being bolstered by the merger of its united kingdom off - license interests - - victoria wine and thresher - - with those of whitbread plc. after the deal was closed both allied domecq and whitbread owned 50 percent each of the new entity, named first quench retailing .
in june 1999, allied domecq began the process of selling its over 3, 500 united kingdom - based pubs to whitbread. the move was made in order to enable allied domecq to focus more intently on its core businesses in the wine & spirits and retailing divisions. soon thereafter, rumors began to circulate that pernod ricard was planning on initiating a bid to take over allied domecq' s wine & spirits division, although the company' s officials refused to confirm the rumor .
patrick ricard, chairman and chief executive of pernod ricard, said :
i believe that allied domecq' s magnificent portfolio of brands has a great future within our group. we at pernod ricard look forward to working with the employees of allied domecq to realise the strong potential that exists to grow our enlarged business .
by the 1990s allied lyons was well into a spirits - focused expansion strategy that involved the takeover of multiple spirits companies, including that of pedro domecq, a long - winded process that began in 1993 (the final tranche of shares was purchased in 1998). the following year the group changed its name to allied domecq .
following the 1997 merger of idv and united distillers to form diageo, allied domecq became the second - largest spirits producer in the world, albeit a distant second .
allied domecq agreed to a £7. 4bn takeover last night that will see the venerable british drinks group split between pernod ricard of france and american rival fortune brands .
allied domecq blamed economic stagnation in france and germany for a slowdown in consumer spending. sales in france were also distorted by government - imposed price decreases from september .
beck, ernest ,
allied domecq reaches accord to sell pubs unit to whitbread for $ 3. 84 billion ,
wall street journal, may 26, 1999 .
as the end of the twentieth century approached, allied domecq continued reevaluating and streamlining its operations in an attempt to earn a solid return on its shareholders' equity. the company made history in early january 1999, when it completed the first major business transaction ever to use the new european currency, the euro. the transaction occurred when allied domecq reviewed its cantrell & cochrane group (c & c) operation and determined that ownership of c & c did not fit allied domecq' s long - term strategies .
by mid - 1998, allied domecq was continuing to build its spirits & wine division, and had worked out a deal with a subsidiary of industry giant diageo plc. the subsidiary in question was the well - known guinness ireland group limited, from whom allied domecq purchased a 49. 6 percent minority stake in guinness' s irish drinks company cantrell & cochrane group limited .
in a three - way deal, paris - based pernod will pay that amount in cash and stock for british drinks company allied domecq and then sell several of allied' s businesses for $ 5. 3 billion to fortune, a lincolnshire, ill. - based conglomerate .
there was also confusion last night over the effect of the deal on allied domecq' s right to sell the world' s leading premium vodka, stolichnaya, which is owned by spi group .
the year 1994 brought with it an extremely notable development in allied - lyons' history, as the company purchased pedro domecq - - the top marketer of spirits in spain and mexico. the addition of pedro domecq gave allied - lyons control of some very well known brand name spirits, and greatly bolstered its portfolio. most notably, pedro domecq brought with it two of the world' s top three brandies - - presidente and don pedro & mdash well as the two leading spanish brandies - - fundador and centenario. also acquired with the purchase were sauza - - the number two brand of tequila in the world - - and la ina, a well - known brand of sherry. as a result of the pedro domecq acquisition, in september 1994 allied - lyons once again changed its name - - this time to allied domecq plc - - and began publicly trading its stocks under that name .
the allied board agreed the deal in advance of today' s interim results announcement .
allied domecq' s board is understood to have met yesterday to agree the deal but details of which brands will be picked up by which of the company' s new owners still have to be finalised .
similar concerns exist with allied domecq' s beefeater gin and ballantine' s whisky, which could induce a headache among regulators when placed with pernod' s seagram' s and larios gin brands and chivas regal whisky .
there is confusion over whether allied domecq independently has the rights to the stolichnaya trademark in the us. the brand is seen as a significant asset for pernod as the french company does not have its own vodka label .
blending and brewing company formed by the merger of allied breweries and j. lyons & co .
in 1997, allied domecq added yet another food - related retail operation to its portfolio when it purchased the togo' s eatery chain. togo' s was a deli - style sandwich shop. soon after the addition, allied domecq initiated a new marketing strategy involving togo' s and its dunkin donuts and baskin - robbins chains. company officials had noticed that while dunkin donuts did the majority of its business in the morning hours, baskin - robbins generated most of its own in the evening. upon bringing togo' s underneath the corporate umbrella - - a chain which was busiest during lunchtime - - allied domecq decided to try saving money on real estate by opening new locations that combined all three chains. in addition to offsetting real estate costs, the co - branding concept also made it possible for allied domecq to introduce its lesser - known brands into an area where one of its better - known chains was already dominant .
two years later, allied - lyons made another major purchase, adding the whitbread spirits division to its allied vintners holdings. the whitbread acquisition brought the brand names beefeater, long john, and laphroaig to the allied - lyons family. also in 1989, allied - lyons completed the purchase of the dunkin donuts store chain, and added the entity to its j lyons retail operations division .
he added :
the offer for the business from pernod ricardprovides allied domecq shareholders with the ability to crystallise value and an opportunity to continue to participate in the future success of many of our brands within the enlarged pernod ricard business .
the takeover will also result in allied domecq' s chief executive, philip bowman, gaining a windfall of £15m. he would have pocketed an extra £2m, but two years ago shareholders forced the group to ditch its two - year service contracts. he also holds 430, 000 shares in allied, worth an extra £2. 8m .
in 1993, the brewery business was merged with carlsberg to form joint venture carlsberg - tetley. the group used the resulting funds to acquire a controlling stake in their spanish partners in hiram walker europa. allied paid a huge £740m for a 73% stake in domecq (and acquired the balance of shares in 1998). domecq' s brands already included two of the world' s top three brandies, presidente and don pedro, as well as # 2 tequila sauza, and the deal made the new allied domecq the world' s # 3 spirits company behind grand metropolitan' s idv and guinness' s united distillers .
a breakdown of where some of the famous brands will end up after pernod ricard' s planned takeover of allied domecq. pernod ricard will sell some of the brands it acquires in the deal to u. s. - based fortune brands inc .
during its 100 - year lifetime, the distillery changed hands and waded through sporadic periods of inactivity several times, eventually falling into the lap of pernod ricard following its takeover of allied domecq in 2005. by this time the distillery was completely inactive .
in 1992 the group divested its brewing operations (allied breweries) into a joint venture with denmark’s carlsberg .
allied domecq’s australian chief executive philip bowman, 52, said the business had changed substantially in the past six years since he joined the company. he is likely to leave with some £15. 3m in golden parachute payments for shares, options and bonuses he is owed .
competition regulations forced pernod ricard and fortune brands to divide up the company’s brands and sell some others. once the dust settled on these transactions the enlarged pernod ricard group was still the second - largest drinks company, but was much closer to diageo’s heels than allied domecq had ever been .
the deal, to be announced alongside allied domecq' s half - year results today, values the owner of beefeater gin and perrier jouët champagne at 670p a share. it will turn pernod into the world' s second - largest drinks group behind diageo, owner of guinness and smirnoff .
the majority of the purchase price is being paid in cash, with the remainder made up of shares in pernod, which is quoted in paris. including the debt amassed by allied domecq, which admitted it was in talks this month, the takeover values the entire business at roughly £9bn .
the beginnings of allied domecq plc can be traced to 1961, when three uk - based brewing companies merged to form a larger company, which was named allied breweries. prior to the merger, the three companies - - ind coope, tetley walker, and ansells - - had operated independently for years, each gradually becoming a major presence in the brewing and pub - operating business throughout the years. in 1968, allied breweries merged once again, this time with showerings, vine products and whiteways, which owned harveys of bristol .
the allied wine portfolio, however, proved especially attractive to fortune' s peak wines international unit in healdsburg. combined with clos du bois, the company will become the largest player in sonoma county, said stephen brauer, president of peak wines, giving the company synergies in grape sourcing and production. the clos du bois brand is doing particularly well, growing by 15% for the six months ended feb. 28, according to allied domecq .
in order to consolidate its position further, the company began merger talks with seagram in 2000 but eventually pulled out. finally, in 2005, the french drinks giant pernod ricard, backed by the american fortune brands inc. , placed a bid for allied domecq worth £7. 5bn, which was accepted by the board .
as well as issues over allied domecq' s liquor brands, the deal is expected to result in the sale of the wine business, which includes mumm and perrier jouët champagne and spanish producer bodegas y bebidas. luxury goods group lvmh, the owner of moët, has already ruled itself out of a bid for the business .
whiteway' s parent company kept on expanding, buying food manufacturer j lyons in 1978 and renaming itself allied - lyons three years later .
the french company is offering 670p a share for uk based allied, owner of brands including courvoisier, beefeater gin, tia maria and malibu .
the company was founded in the east devon village of whimple in the 19th century, but by 1968 it was part of the allied breweries conglomerate .
a decade later, the still - growing company acquired j lyons, a company whose holdings included the united states - based baskin - robbins ice cream chain. three years later, in 1981, the company name was changed to reflect this addition, and allied breweries became allied - lyons plc .
in 1987 allied lyons formed a subsidiary, allied distillers ltd. , to control all its uk spirits operations, which by the following year also included ballantine’s. by 1990 the portfolio also included the spirits division of brewer whitbread, which principally included james burrough distillers, owner of long john and laphroaig .
yet the merger also created lasting problems for the group. on the day the domecq deal was signed, a political assassination in mexico, where half of domecq' s business originated, sparked off a freefall in exchange rates for the mexican peso. this impacted heavily on the newly merged group' s profits. allied domecq was dogged by a series of problems for the rest of the decade. carlsberg - tetley saw its market share slump mid - decade, while allied' s own brands were affected by a worldwide downturn in spirits consumption. the group countered by focusing more tightly on its core businesses of spirits & wine and retailing. tetley tea was sold to management in 1995, followed by lyons irish tea the following year (to unilever). also in 1996, the group sold its half - share in carlsberg tetley to bass. (uk competition authorities later ruled against the deal, forcing bass to sell on the shares to carlsberg in 1997. )
allied domecq was the result of a complex series of corporate deals over many years. at its core were two separate mergers which took place in 1961 among what was then britain' s large collection of beer and spirits manufacturers. that year, three of the uk' s leading brewers merged to create allied breweries. the trio were ind coope (established in essex in 1799), tetley walker (a 1960 merger of leeds - based tetley, established 1822, with walker cain) and ansells (established 1881 outside birmingham). each ran a large pub estate alongside their breweries, and as a result, allied breweries became at a stroke one of the country' s biggest manufacturers and retailers of beer .
in 1987, a year after it completed its corporate restructuring, allied - lyons scored big with the acquisition of the canadian - based company hiram walker - gooderham & worts ltd. the purchase gave allied - lyons control of hiram walker' s well - known brand name product lines, such as ballantine' s, canadian club, courvoisier, and kahlua. although hiram walker' s overall operations were merged into those of allied - lyons, the newly acquired brand names remained unchanged .
following the merger of allied breweries and j. lyons & co. , the new supergroup’s priority was to expand its spirits holdings. it already held william teacher & sons and stewart & sons of dundee, and through its subsidiary, allied distillers, bolstered its portfolio until it became the second largest spirits company in the world .
once the deal goes through, pernod will sell some of allied’s brands to us - based fortune brands for £2. 8bn in cash. these include canadian club, courvoisier, maker’s mark and sauza spirits and its super - opremium california wines, including the clos du bois brand and various allied distribution assets in europe for us wines .
pernod ricard will retain the rest of the allied domecqbusiness, including spirits brands and premium wines including ballantine' s, beefeater, kahlua, malibu, stolichnaya, tia maria, montana, mumm and perrier jouet .
the spirits & wine operation also revamped its marketing strategies, and began attempting to target younger customers than it had been in the recent past. it was noted that consumption of spirits in the united states, for example & mdash opposed to that of beer or wine - - had decreased throughout the 1980s and 1990s, especially in the young adult demographic. allied domecq made an effort to win back this consumer group by offering interesting and often exotic drink options, while also reeducating its customers about its products and their merits .
brauer said fortune was moving at a time when
wine is in ,
especially for the $ 10 - and - above price range that is the focus of both the peak wine properties and the allied portfolio .
allied domecq’s results showed pre - tax profits up 7% at £285m though turnover was flat at £1. 7bn. strong growth in north america compensated for more challenging conditions in western europe, with turnover in the spirits and wine business down by 6% net turnover fell 5% . overheads were reduced by 6% but this failed to halt a decline in volumes. the uk was particularly poor, with volumes down by 8% and net turnover 6% adrift. despite this, courvoisier did well with volumes up 4% .
after its name change, allied - lyons set about restructuring its business operations and holdings. the company was separated into three main divisions, each with its main focus in a different area. the name allied breweries re - emerged as one of the new divisions, which was responsible for the brewing and pub - operating portion of the company' s business. additionally, allied vintners was formed as the company' s new wine and spirits division, with two of its main brand name products being teacher' s and harveys. the third division was j lyons, which was responsible for the company' s retail operations - - such as the baskin - robbins chain .
the new millennium marked the beginning of a new era of growth and innovation for corby. in 2005, pernod ricard s. a. along with fortune brands acquired the assets of allied domecq and split allied’s portfolio. as a result, pernod ricard became corby’s majority shareholder. in september 2006, corby and pernod ricard entered into long - term representation and production agreements, adding such international market - leading brands as chivas regal, the glenlivet scotch whiskies and jacob’s creek wines to corby’s sales portfolio for the canadian market. corby also acquired the international rights to lamb’s rum and seagram coolers, and sold its 45% interest in tia maria to pernod ricard s. a. in 2008, corby added the global powerhouse vodka brand absolut to its representation portfolio through an agreement with pernod ricard .
at one time the world' s # 2 spirits company, uk - based allied domecq was acquired in 2005 by its smaller rival pernod - ricard for around $ 14bn. the company was broken up and its drinks portfolio shared between pernod and co - bidder fortune brands (now beam suntory). pernod kept ballantine' s whisky, malibu and kahlua, among others, while fortune absorbed maker' s mark, sauza tequila and canadian club. fast food chains dunkin donuts and baskin - robbins were sold at the end of 2005, becoming an independent company, dunkin brands .
such a bid came in 1978 from allied breweries, which hoped to build on the economies of scale developed from its formation in 1961. this resulted in the eventual breakup and sale of parts of the group that were deemed to be a lesser fit .
at the same time, another conglomerate was being formed by three wine and spirits companies, showerings, vine products and whiteways, who merged under the initials svpw. as industry in general continued to consolidate in the uk in the 1960s, the two companies were brought ever closer together and in 1968, svpw was acquired by allied breweries. a decade later, allied took the decision to diversify into food as well, acquiring j lyons & co, the rump of what had been one of the country' s earliest restaurant businesses .
as the company entered the 1990s, the string of successful acquisitions continued, and the company' s expansion plans were furthered. by 1993, allied - lyons had also inked a brewing joint venture deal with carlsberg a / s, naming the venture carlsberg - tetley .
pernod will keep the rest of the business, a veritable drinks cabinet of brands ranging from ballantine' s whisky, beefeater gin, kahlua, malibu, stolichnaya, tia maria, montana, mumm and perrier jouet and campo viejo, together with some other allied business interests .
with these strong brands already under its belt, allied formally pulled out of the seagram auction at the end of 2000. officially captain morgan rum was acquired by diageo for around $ 2bn, but destileria serralles claimed to have right of veto over the ultimate distributor of the brand. forestalling a court ruling on ownership, allied resolved the issue by agreeing to drop their claim on morgan in return for the purchase of malibu rum brand from diageo for £560m. they also paid diageo £27. 5m to buy sparkling wine mumm cuvee napa, reuniting the mumm portfolio under one roof .
allied breweries was formed by a merger of three major english breweries in 1961. over the next 17 years it purchased whisky blenders stewart and sons of dundee, and william teacher and sons, mainly to service the estate of managed and tied public houses and wine and spirit merchants that were formed by the merger .
the allied purchase will give pernod, which owns chivas regal among other spirits brands, a range of drinks including beefeater, ballantine' s scotch whiskey, kahlua coffee liqueur, stolichnaya and mumm champagne. it will own 20 of the top 100 global spirits brands and have international reach from the bars of los angeles to the tavernas of greece .
analysts believe the deal will transform the drinks industry, giving pernod the power to move from being a strong regional player into a giant with global brands and a presence in all major world markets. the new products it takes on from allied will help it compete head - to - head with diageo, the current number one in the drinks industry .
after treating lyons as a separate entity for a number of years the group finally adopted the name allied lyons plc in 1981. during this time and over the coming years, the company continued to expand its scotch whisky holdings, and even made a (unsuccessful) bid for irish distillers group, which eventually sold to pernod ricard for us $ 525m .
' our interim results announced today demonstrate our eleventh successive half - year of growth. competitive and economic conditions in the first half of 2005 have been tough but we delivered a robust performance. the offer from pernod ricard provides allied shareholders with the ability to crystallise value and an opportunity to participate in the future success of many of our brands within the enlarged pernod ricard business. ’
at its peak, lyons was the biggest food manufacturing company in europe. it also established a substantial hotel chain, and even moved into industrial activities such as bomb - making during world war ii and the development of early computer systems during the 1950s. following the decline of its tea rooms after the war, the group established a chain of steak restaurants as well as britain' s first american - style hamburger chain, wimpy. in the 1960s, however, lyons lost its way, and the company began a steady decline which reached its climax in the recession of the mid - 1970s. most of the group' s subsidiaries were sold off, and the remaining operations were absorbed by allied .
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corona limeade. idris lemon squash. top deck shandy. strawberry - flavoured cresta .
if you spent your childhood in the uk in the 1960s and 1970s, these and many other soft - drink brands of the era will immediately summon up a great frothy wave of nostalgia .
of course, those dimly - remembered beverages that used to be staples of the supermarket and corner shop have long since disappeared .
but one such drink has lived on, becoming far more popular in the caribbean than it ever was in its country of origin .
pear - flavoured fizzy drink peardrax, along with its apple - based counterpart cydrax, is still made under licence in trinidad, nearly 20 years after being taken off uk shelves because of falling sales .
despite the fact that pears are not native to the region, trinidadians and tobagonians now see the drink as a defining part of the culture of their twin - island republic .
one website, tntisland. com, features a
true trini test
including a preference for peardrax or cydrax over pepsi or coca - cola as a sign that
yuh know yuh is a real trini
.
and peardrax is a big seller for businesses catering to expat trinis around the world .
it' s most important during christmas ,
says us - based trinidadian randall romero, who runs an international shop online called trinifood. com .
i know that as a child growing up, that was the main time you drank peardrax. during christmas, i would say the peardrax sale more than doubles - i sell about 100 cases at that time .
cydrax, we don' t sell so much, but peardrax is popular because it has a unique taste. it' s the slightly fermented pears that they use - you don' t get that from any other drink. it' s very good with scotch .
it' s all a far cry from the origins of peardrax, which began as a sideline for now - defunct west country cider firm whiteway' s .
but peardrax and cydrax were in terminal decline in the uk and were finally withdrawn from the domestic market in 1988 .
in the meantime, although whiteway' s product range had disappeared from british shops, control of its brands passed from hand to hand in a series of deals, as the uk cider industry underwent a long and complicated restructuring .
since 2004, they have been owned by gaymer cider company, part of the european arm of us drinks group constellation brands .
gaymer, the uk' s second - biggest cider maker, is best known for its blackthorn, olde english and diamond white brands .
but it continues to receive royalties from sales of peardrax and cydrax in trinidad, where they are produced by the pepsi - cola trinidad bottling company .
caustic commentator victor lewis - smith, for one, recalls it as
a foul, resinous, cloying, sweet beverage
without even the
saving grace
of inducing drunkenness .
but in the caribbean, as a spokesman for gaymer says, it is seen as
a more sophisticated drink
that can even be served at weddings to toast the health of the bride and groom .
robert opie, director of london' s museum of brands, packaging and advertising, says peardrax is one of many brands that have died out in their home market, but still enjoy success elsewhere .
lifebuoy soap, for instance, disappeared here about 15 years ago, but it' s still thriving in places like india ,
he says .
mr opie is unsurprised by the fact that people in trinidad and tobago have forgotten about the english origins of peardrax, perceiving it as a local product .
the ownership of brands is fascinating. we all tend to think that our favourite brands come from our country .
heinz or kellogg' s we tend to think of as british, but they' re not - they' re american. people have forgotten that shredded wheat came to this country from the us .
we grow up to love these things and we tend to think of them as belonging to our country, but they don' t .
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bristol - based wine and spirits group that grew to become the second - largest in the world .
as part of its spirits focus, and following the divestment of its brewery subsidiary into a joint venture with carlsberg, the company continued to dispose of other peripheral parts of the business, including irish drinks company cantrell & cochrane and its estate of 2, 500 tied pubs .
pernod ricard is perhaps best known for the two anis drinks that bear the names of the french firms that merged to create the business in 1974. it also owns a stable of irish whiskeys - bushmills and jamesons - as well as dubonnet and wild turkey bourbon .
products owned by fortune brands extend beyond the drinks sector, where it owns jim beam and knob creek bourbons, into household goods and titleist golf equipment .
reports yesterday suggested fortune will acquire courvoisier and take larios from pernod while the french group will acquire beefeater and retain its seagram' s gin .
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spirits giants pernod ricard and fortune brands inc. bellied up to the bar thursday and walked away with a $ 14. 2 - billion tab for such beverage brands as beefeater gin, stolichnaya vodka and clos du bois wine .
the transaction will make fortune a major player in california' s wine industry and highlights the consolidation underway in both wine and spirits .
the name of the game today is to broaden your product line. the small don' t make it ,
said marvin roffman, president of philadelphia - based roffman miller associates, which manages $ 300 million including 40, 000 fortune shares .
the deal is going to make fortune much bigger, doubling the size of its wine and spirits business to $ 2. 5 billion in annual sales with the acquisition of such labels as canadian club whiskey, courvoisier cognac, maker' s mark bourbon and sauza tequila. altogether, the conglomerate sells about $ 7 billion of home goods, office products, sporting equipment and wine and spirits annually .
the owner of geyser peak and canyon road wines in sonoma county and the wild horse winery in templeton, fortune has been a small california wine producer in an industry that is increasingly controlled by such giants as e & j; gallo winery, constellation brands inc. and the wine group .
with this deal fortune will acquire important high - volume wine brands such as clos du bois, buena vista and callaway and more than quadruple its california production to 2. 7 million cases .
this transforms fortune into a significant player in the premium wine market ,
said jon fredrikson, head of gomberg fredrikson & associates, a woodside, calif. , wine industry consulting firm .
though fortune trolled california vineyards for acquisitions in recent years, it stood on the sidelines while robert mondavi corp. was sold to constellation last year for $ 1 billion, and chalone wine group ltd. was purchased by london - based spirits company diageo for $ 195 million in december .
indeed, bottles priced over $ 11 are the fastest growing wine price segment, according to acnielsen, the schaumburg, ill. - market research firm. overall, sales of wine in u. s. grocery stores grew 7% by dollar volume and 3. 2% by case volume for the 52 weeks ended march 12, according to acnielsen .
the outlook is good ,
said fredrikson .
that' s why there is a lot of money changing hands .
both wine and spirits are benefiting from
a structural change
in drinking habits, said tom pirko, president of santa barbara - based consulting firm bevmark .
young consumers are moving away from beer and are going to wine and spirits ,
pirko said .
beer sales dipped to 53% of the domestic beverage alcohol market last year from 56% in 1999, according to the distilled spirits council, an industry trade group. at the same time, spirits' share of the market has risen to 31% from 28% .
consumers, pirko said, are looking for more complex and interesting flavors in an age when
all the light beers are virtually tasteless .
but the wine and spirits consolidation also is driven by what pirko calls
the diageo effect .
with more than $ 15 billion in annual sales, diageo has become the dominant global player in the wine and spirits business, and rivals are scrambling to gain enough heft to be effective competitors .
the transaction also includes the dunkin' donuts, togo' s and baskin - robbins eateries, which pernod is expected to sell off .
the deal will make the combined company
the true no. 2 in the world, and hopefully a true competitor to diageo ,
said pierre pringuet, pernod ricard' s co - director general. pernod, which had revenue of $ 4. 4 billion in 2004, did not provide an estimate of what its total sales would be when the merger is completed later this year .
boyd, terry ,
franchising facts ,
business first - - louisville, december 21, 1998 .
marquand, barbara ,
co - branding brings cafes to banks, pizza to kmart ,
sacramento business journal, december 18, 1998 .
o' brien, george ,
this franchisee is making serious dough ,
business west, january 1999 .
sinton, peter ,
double dipping: family sells then buys back gelato business ,
san francisco chronicle, march 3, 1999 .
sledge, ann ,
beverage marketers capitalize on changing tastes ,
fairfield county business journal, april 5, 1999 .
source: international directory of company histories, vol. 29. st. james press, 1999 .
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go to brand website aberlour absolut vodka avión ballantine' s becherovka beefeater big house brancott estate campo viejo chivas criollo cupcake dubonnet etchart foreign affair wines g. h. mumm graffigna havana club hiram walker liqueurs j. p. wiser' s jacob' s creek jameson kahlúa lamb' s lillet malibu martell mcguinness mumm napa olmeca olmeca altos pernod perrier - jouët polar ice ramazzotti reál sangria ricard seagram stoneleigh suze the glenlivet ungava wyndham estate
the history of corby spirit and wine limited begins in the early ontario frontier when whisky was as much a part of daily life as bread and meat .
our founder henry corby, of french huguenot stock, learned the baking trade in london, england, before immigrating at age 26 to canada, where he set up a small food shop and bakery in belleville, ontario, in 1832. after military service in the 1837 rebellion, he sold his bakery and bought a st. lawrence steamer .
henry’s involvement in buying and selling grain led him to establish a gristmill on the banks of the moira river. farmers would bring their grain to be ground into meal and would reserve a portion of it to be made into whisky. so henry corby became interested in the distilling process. he was soon making his own brand of whisky for local consumption as a sideline to the main milling operation. by 1859, the distillery operation was incorporated and equally important to henry as the mill operations .
during this period, henry corby was elected mayor of belleville for a two - year term (he did not run in subsequent elections), and following confederation in 1867, he became a member of the provincial parliament for east hastings, sitting for two consecutive terms from 1867 to 1875. he retired from public life in 1875 and returned to the milling and distillery business and began selling whisky in bulk .
in 1881, henry’s son took over the business. over the next decade under harry’s direction, the company began to evolve. they bottled their own brand of whisky and sold it under the name of corby. the quality whisky became more and more popular and new markets were opened. the company began diversifying by importing scotch whisky and wines .
in 1905, mortimer davis formed a limited company and purchased the assets of the corby family. the new organization was known as h. corby distillery company limited. in 1907, the original distillery was destroyed by fire and replaced by a larger new facility .
early in the decade, corby established an office in montréal. in october 1912, henry corby ii was appointed to the canadian senate. war changed the business, and the distillery suspended normal operations to dedicate itself to the war effort, producing alcohol for munitions .
after the war ended, h. corby distillery was sold to the canadian industrial alcohol company limited, a holding company that became the parent organization. this new organization purchased the assets of jp wiser’s distillery limited of prescott, ontario, and moved its operations to corbyville, ontario. during the same decade, both j. m. douglas and company limited (imported wine and spirits merchants) and robert macnish and co. limited of scotland (a scotch whisky producer and exporter) were acquired .
in 1935, under the leadership of harry c. hatch, hiram walker–gooderham & worts ltd. became the majority shareholder in h. corby distillery limited, acquiring 51% of the company’s equity from the canadian industrial alcohol company .
once again, war forced the distillery to suspend normal operations in favour of producing alcohol for munitions during the second world war .
following the end of world war ii, the international distilling industry began a period of consolidation that has continued to the present day. canadian troops returning from europe had acquired new tastes for imported spirits and wines. in 1952, the company signed a joint venture agreement with the united rum merchants of london, england, bringing the renowned lamb’s family of rums to the corbyville distillery site, significantly expanding its production. in 1954, corby and its majority shareholder, hiram walker and sons ltd. , took an equity position in the global tia maria brand .
throughout this decade, corby expanded the distribution of its domestic portfolio and grew its representation of internationally renowned spirits and wines through its j. m. douglas division. in 1969, the company changed its name to corby distilleries limited – les distilleries corby limitée and was listed on the toronto stock exchange .
in 1978, corby purchased meagher’s distillery limited of montréal and its subsidiary, the william mara company of toronto. this acquisition expanded the company’s presence in the domestic liqueur market and, through william mara, brought representation of such international brands as beefeater gin, along with an enhanced wine portfolio .
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pernod is being backed in the deal by fortune brands of the us. the french company has agreed to sell brands including canadian club, courvoisier, maker' s mark and sauza to fortune for around £2. 8bn .
philip bowman, chief executive said :
this is a very different business from the one i joined some six years ago. we have a substantially stronger portfolio with access to growth categories and markets, better margins, more efficient use of resources and of course significantly stronger cash flows .
' our interim results announced today demonstrate our eleventh successive half - year of growth with constant currency earnings and interim dividend per share up by over ten percent. in the last five years, the market capitalisation has almost doubled, increasing by £3. 6 bn .
norm wesley, chairman of fortune brands, said :
we see the purchase of these exceptional, complementary brands as an excellent high - return growth opportunity that will fill gaps in our portfolio and take our very profitable spirits and wine business to the next level .
international directory of company histories, vol. 29. st. james press, 1999 .
data from internet archive holdings of the science media centre website, 2002 - 2013 .
this page was last modified on 5 july 2016, at 13: 29 .
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j. lyons and co. was a successful hotel, restaurant and food manufacturer which had also diversified into electronics (the lyons electronic office was one of the first computerised systems on sale in the uk). by the late 1970s however, the company was in decline and ripe for a takeover bid.
allied domecq plc was an international company , headquartered in bristol , united kingdom , that operated spirits , wine , and quick service restaurant businesses . it was once a ftse 100 index constituent but has been acquired by pernod ricard . 
allied domecq plc was an international company, headquartered in bristol, united kingdom, that operated spirits, wine, and quick service restaurant businesses. it was once a ftse 100 index constituent but has been acquired by pernod ricard.
allied domecq plc was an international company, headquartered in bristol, united kingdom, that operated spirits, wine, and quick service restaurant businesses. it was once a ftse 100 index constituent but has been acquired by pernod ricard.