Tag: Cannabis

On-Premise Closed for Business

Posted in Beer, Industry.

Dear Client: The on-premise is now shut down in more than half the states in the U.S. In our latest tally, we identified 28 states that have ordered bars and restaurants to shutter. Here’s what the updated list looks like: California Colorado Connecticut Delaware Florida (bars, nightclubs shut down, but restaurants can still operate for now at 50% capacity) Illinois Indiana Iowa Kentucky Louisiana Maryland Massachusetts Michigan Minnesota New Hampshire New Jersey New York North Carolina Ohio Oregon Pennsylvania Rhode Island South Carolina Utah* Vermont Washington West Virginia Wisconsin AND...

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Why Canopy Growth has delayed its cannabis drinks launch

Posted in Beer, Spirits, Wine.

Canopy Growth Corp has been forced to delay the launch of its first cannabis drinks. Canopy Growth CEO Bruce Linton As shares are marked down and product launches are delayed, the future is hazy for Canada’s biggest cannabis growing firm. Canopy Growth, whose largest shareholder is drinks giant Constellation Brands, has postponed the launch of a line of cannabis drinks as it hasn’t been able to scale its production to commercial levels yet. The grower had planned to launch its first cannabis drinks across Canada in January, but chief executive David Klein said it had only been able...

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Constellation CFO David Klein to be New Canopy Growth CEO

Posted in Beer, Industry.

Dear Client: If anyone thought Constellation has lost interest or heart in its big cannabis bet, Canopy Growth, the appointment of current STZ CFO David Klein to CEO of Canopy would strongly suggest otherwise.  Constellation chief Bill Newlands called the transition of David, who has been their CFO since June 2015, “a great career opportunity … Continue reading “Constellation CFO David Klein to be New Canopy Growth CEO” You are unauthorized to view this page. Read the full article

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2019 Market Update | Day 77

Posted in Beer, Industry, Spirits, Wine.

Analysts Dismiss Pernod Ricard’s Rumoured Wine Sale https://www.thedrinksbusiness.com/ by Arabella Mileham 18th March, 2019 Analysts have poured cold water on the rumour that Pernod Ricard is mulling a sale of its wine division, arguing that while there may be further sales of non-core brands, a wholesale disposal of the entire wine division is “unlikely”. Analysts firm Jefferies International issues a note in response to a report in Bloomberg last week that claimed the French drinks company was in “early discussions” on a potential sale of its $500 million wine...

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2019 Market Update | Day 75

Posted in Beer, Industry, Spirits, Wine.

Corona brewer Constellation is nearing a deal to sell some wine brands to E. & J. Gallo Constellation Brands is in advanced talks to sell its some of its low-end wine brands to E. & J. Gallo Winery, people familiar with the situation tell CNBC. Constellation put its U.S. wine business, which includes brands like Clos du Bois, Mark West and Arbor Mist, up for sale last year as part of its move into cannabis. Sales of non-premium wine have slowed, as millennials focus increasingly on health and alternative indulgences like cannabis. CNBC Lauren Hirsch 15 March 2019 Constellation Brands...

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2019 Market Update | day 72

Posted in Beer, Industry, Spirits, Wine.

Pernod Weighs Sale of Jacob’s Creek, Campo Viejo Wines https://www.bloomberg.com/ By Ruth David and Thomas Buckley March 13, 2019 Pernod Ricard SA is considering a sale of its wine division, which includes Australia’s Jacob’s Creek and Spain’s Campo Viejo labels, according to people familiar with the matter. The world’s second-largest distiller has held early discussions on a potential sale of the unit, which has sales of about $500 million, said the people. Deliberations are at a preliminary stage and Pernod may ultimately decide to retain the business,...

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Board rigid with AB InBev, Disney and Apple’s director reshuffles

Posted in Beer, Industry, Spirits, Wine.

The world’s biggest brewer has finally admitted that Budweiser is a soft drink – tolerable only as a thirst quencher at a baseball stadium on a hot day after the third inning and a particularly spicy hot dog. At least that was my read of AB InBev’s decision this week to replace its chairman, Olivier Goudet. Mr Goudet’s day job is running JAB Holdings, the investment group that has embarked on a blitz of acquisitions in recent years, from Pret A Manger to Peet’s Coffee. The precise trigger for his departure is disputed. The Frenchman says he needs to devote...

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