As emerging markets consumers earn more, they are spending more on high-end alcohol, says Eric Bokota, portfolio manager for the FPA International Value Fund.
The recession put spirits businesses on guard. But the industry’s trade group says sales are growing, and it might be time to crank up the innovation machine and take a few more chances.
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The Securities and Exchange Commission today charged Diageo, one of the world’s largest producers of premium alcoholic beverages, with widespread violations of the Foreign Corrupt Practices Act. The SEC alleges that Diageo made improper payments to government officials in India, Thailand and South Korea over a period of six years.
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Find out why Cramer is bullish on this liquor company
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Government policymakers in Davos this week looking to revive growth might want to emulate global mutual-fund managers, who are having no trouble finding growth stories across the developing world and in pockets of developed markets.
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The holidays are here, bringing in lots of holiday "cheers." So raise your glass, because alcohol stocks are on the rise.
London-based beverage company Diageo is in preliminary discussions to acquire Turkish spirits maker Mey Icki which would expand its market share in the developing world, according to a report that appeared in the Wall Street Journal Thursday.
Activist investor Bill Ackman has been given a four-week deadline to propose changes to the board of Fortune Brands, which could lead to the break-up of the whiskey-to-golf balls US conglomerate in which he has accumulated an 11 percent stake.
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The spirit once called Kill-Devil has set off a bitter dispute between two United States islands, Puerto Rico and the Virgin Islands, over a tax that the federal treasury collects on rum.
SAB Miller, the drinks group, is working with other FTSE 100 companies on a system to change how the City understands “consensus estimates” for financial performance. The FT reports.
Guidance for FY 2011 is for operating profit growth better than 2 percent. But with North America still contributing about 40 percent of the profits, even that lackluster guidance may not be a slam dunk.
Diageo, the maker of Johnnie Walker whiskey, found an innovative way to plug a gaping deficit in its pension plan: put aside 2 million barrels of maturing whiskey from its distilleries in Scotland. The NYT reports.
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