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Spirits Industry

All articles tagged with #spirits industry

business15 days ago•2 min saved

Brown-Forman and Pernod Ricard Explore a Merger-Style Partnership

Brown-Forman confirms it is in discussions with Pernod Ricard about a potential merger-of-equals-style partnership. If agreed and subject to customary approvals, the deal would create a global spirits leader with enhanced scale, a strong brand portfolio, and a balanced geographic footprint; no terms have been reached and there is no guarantee a transaction will occur. Brown-Forman will not comment further unless an agreement is reached.

via Brown-Forman|

#brown-forman #business #merger-discussions

business1 year ago•2 min saved

Stoli Group USA Files for Bankruptcy Following Cyberattack

Stoli Group USA has filed for Chapter 11 bankruptcy following a two-month cyber attack that disrupted its operations. The filing, which includes Stoli Group USA LLC and Kentucky Owl LLC, aims to allow the company to reorganize its debts while continuing normal operations. The cyber attack, along with broader industry challenges, has led to financial difficulties for the company. Despite the bankruptcy, Stoli Group plans to maintain its business operations and brand availability, with the restructuring process expected to conclude by mid-2025.

via The Spirits Business|

#bankruptcy #business #chapter-11

business2 years ago•1 min saved

"Diddy and Diageo Reach Settlement Over Racism Accusations"

Sean "Diddy" Combs and Diageo have settled their dispute, with Combs withdrawing his accusations of racial discrimination and voluntarily dismissing his lawsuits against the spirits giant. The lawsuit, filed last year, alleged that Diageo neglected the vodka and tequila brands he promoted or co-owned and marketed them as "urban" brands. The settlement marks the end of a partnership that began in 2007 to promote Cîroc vodka and jointly purchase DeLeón tequila in 2013.

via CNBC|

#business #diageo #diddy