Low Bids May Delay V&S Auction
Swedish Financial Markets Minister Mats Odell said the government may delay the sale of Vin & Sprit due to market turmoil, reports Reuters. During an interview with Swedish radio today (January 22), Odell said indicative bids for V&S are due to arrive this week. If the bids are too low, however, the government may delay the auction.
"Once we have seen the end of that process we have the ability to put on the brake if necessary, if we feel the price is too low. If that is the case, we wait for a better time," Odell told the radio station.
His comments sound a little bit like a scare tactic, but perhaps not. We reported yesterday that Odell predicted Absolut would be sold in the first half of 2008. Fortune Brands is considered the front-runner, followed by Pernod, Bacardi and Diageo. Fortune simply has the most to lose if it doesn’t acquire V&S, mainly because it distributes Absolut in the U.S. through its Future Brands J-V with V&S. Fortune is also a partner with the Swedish company in the Maxxium joint-venture, so it wouldn’t have to pay exit fees if it succeeds in acquiring V&S. As you’ll recall, Fortune recently sold its Beam Wine Estates portfolio to Constellation, likely to help fund the acquisition.
Odell was recently quoted in local newspaper Svenska Dagbaldet saying, “I believe, on good grounds, that interest in Vin & Sprit is strong, and that the potential buyers have good possibilities to finance a bid at a very good price.”
We suppose only time will tell and until then he’ll probably keep us guessing.
ANOTHER LOOK AT SERVING FACTS CONTROVERSY
The TTB’s proposal to require alcohol beverages to label serving facts has gotten the attention of The Washington Post. To read the article, click here.
As reporter Cindy Skrzycki puts it: “Beermakers oppose this comparison because, unlike a 12-ounce beer, there is no standard measure for how much liquor, and thus how much alcohol, goes into a drink...Distillers have been working aggressively to get the serving-size alcohol content on the bottle because they think it would dispel the impression that spirits are more intoxicating than beer or wine...Vintners are concerned about the cost of the proposal, which would require lab testing of different wines. Besides, they complain, the nutrition-facts array would rob them of space for the artistic displays that are common on wine labels.”
Also, don’t forget this is your last week to make your comments known to the TTB regarding their proposed "serving facts" rule on labels.
WSJ PROFILES WINE ANTI-SNOB
Former alcoholic and Master of Wine Tim Hanni is responsible for far-reaching changes in the way restaurants feature wines. A wine advisor to hotels and restaurants including Ruth’s Chris and P.F. Chang’s, his anti-snob approach has opened millions of Americans to drinking wine without feeling intimidation, according to an article in the WSJ. He is against everything “elitist” that is associated with wine drinkers, but ironically is one of the first two Americans to hold the highest credential in the field, Master of Wine.
His innovative “progressive wine list” organizes wine from lightest to heaviest rather then grouping them by regions. He argues that no one has a superior palate to anyone else’s and that there’s nothing wrong with White Zinfandel (gasp).
Hanni recently launched Napa Seasoning Co. in 2006 and introduced Vignon, a condiment designed to balance flavor in food so that it pairs well with all wines.
OUT-OF-STATE RETAILERS LOOK TO IDAHO
The Specialty Wine Retailers (SWRA) may turn their attention to Idaho soon. According to a report in the Idaho Statesman, the SWRA has taken notice of an Idaho law that allows only retailers in reciprocal states to ship wine to Idaho residents. Fourteen states currently have reciprocal agreements with Idaho.
"Our argument would be that the practice is out of compliance with the Constitution and the Supreme Court. If Idaho lets Idaho retailers ship to Idahoans, they need to let out-of-state retailers ship to Idahoans," said Tom Wark, as quoted in the Idaho Statesman.
The SWRA doesn’t plan to file a lawsuit in Idaho yet, but lawsuits pending in New York and Michigan could force Idaho to change its laws.
WHOLE FOODS BAGS PLASTIC
Whole Foods says it plans to stop offering disposable, plastic grocery bags in all 270 stores in the U.S., Canada and the UK by Earth Day (April 22). That means roughly 100 million plastic bags will be kept out of the environment between that date and the end of 2008, the company says.
To take the place of the plastic bags, Whole Foods will offer several options: free paper bags in four sizes made from 100% recycled paper, reusable bags 80% made from recycled plastic bottles for 99 cents and canvas bags selling for $6.99 to $35, according to a report in USA Today.
The announcement comes at a time when cities, states and countries are considering eliminating plastic bags. San Francisco has banned them, while New York and New Jersey requires retailers to recycle them. Oakland is considering a ban and China announced a ban this month.
DON SEBASTIANI & SONS RELEASES MOOBUZZ
As a part of Sebastiani’s strategy of trading up its business to “higher priced appellation-specific wines”, the company is releasing MooBuzz. The brand will focus on super-premium Burgundy grape varieties grown in the Sonoma Coast appellation. Chardonnay and Pinot Noir will be featured as the exclusive varietals in the line.
The MooBuzz label features a stylized topographical map of the Sonoma coastline, further emphasizing the importance of wine’s origin, said the company. The suggested retail price for the 2006 MooBuzz Pinot Noir is $25. The 2006 MooBuzz Chardonnay will retail for $20. The wine will be marketed as a part of The Other Guys portfolio.
TERLATO WINES LAUNCHES SPIRITS DIVISION, FIRST SWISS VODKA
Terlato Wines International (TWI) announced today they have created a new luxury spirits division in conjunction with a new partnership with super premium vodka producer, Xellent Swiss Vodka. It is the first and only Swiss vodka, says the company.
The new spirits division will be named Paterno Imports and will include several spirits currently within the TWI portfolio (including Nonino Grappa and Tiramisu, a new Italian liqueur). Xellent Swiss Vodka will launch nationwide in the U.S. in February. It was originally imported by The Spirit of Hartford.
FREE THE GRAPES SUPPORTS REGULATED DIRECT SHIPPING
Amidst recent sting operations by Wine.com, accusations and unlawful shipping practices, Free The Grapes says the first provision of its Wine Industry Direct Shipping Code is for licensees to abide by state shipping laws. The grassroots coalition implemented the voluntary guidelines in 1999.
“With recent news of sting operations, it’s important to keep in mind the longer term strategies that have helped to expand consumer choice,” said Jeremy Benson, executive director of Free the Grapes. “Following the code’s guidelines is not only the right thing to do, but also a proven, practical approach to helping wine lovers.”
“The code and related model direct shipping bill have played a key role in demonstrating that limited, regulated direct shipping works,” said Steve Gross, Free the Grapes! board member and director of state relations, Wine Institute.
The code can be viewed online at http://www.freethegrapes.org/wineries.html#code.
WASHINGTON AND OREGON WINERIES RECEIVE FEDERAL FUNDING
The United States Department of Agriculture (USDA) has given $650,000 to 40 wineries in Oregon and Washington to promote their wines oversees, according to the Washington Wine Commission. The wineries are targeting key markets in Canada, Japan and the UK.
WSD BRIEFS:
KENTUCKY DISTILLERS’ ASSOCIATION has named Eric Gregory as its new president.
WASHINGTON WINE INSTITUTE is launching a Direct Shipping Compliance Affinity Program with Six88 Solutions, creators of ShipCompliant.
SONOMA VALLEY VINTNERS & GROWERS ALLIANCE (SVVGA) announced the addition of the following four board members: Michael Muscardini, Muscardini Cellars; J. Bruce England, EnglandCrest Vineyards; Tom Menzies, Pasatiempo Vineyard; and Carlo Cavallo, Sonoma-Meritâge Restaurant
RIMON WINES. The Seattle Times gave a great review to Rimon Winery’s Black Label Pomegranate Dessert Wine, which carries a suggested retail price of $38 for a 500 ml bottle. The winery is based in Israel’s Upper Galilee and is kosher-certified.
Until tomorrow, Megan
“What is written without effort is in general read without pleasure.”
Samuel Johnson
--------- Sell Day Calendar ----------
Today's Sell Day: 15
Sell days this month: 22
Sell days this month last year: 22
This month ends on a: Thur
This month last year ended on a: Wed.
YTD sell days Over/Under: 0
"Once we have seen the end of that process we have the ability to put on the brake if necessary, if we feel the price is too low. If that is the case, we wait for a better time," Odell told the radio station.
His comments sound a little bit like a scare tactic, but perhaps not. We reported yesterday that Odell predicted Absolut would be sold in the first half of 2008. Fortune Brands is considered the front-runner, followed by Pernod, Bacardi and Diageo. Fortune simply has the most to lose if it doesn’t acquire V&S, mainly because it distributes Absolut in the U.S. through its Future Brands J-V with V&S. Fortune is also a partner with the Swedish company in the Maxxium joint-venture, so it wouldn’t have to pay exit fees if it succeeds in acquiring V&S. As you’ll recall, Fortune recently sold its Beam Wine Estates portfolio to Constellation, likely to help fund the acquisition.
Odell was recently quoted in local newspaper Svenska Dagbaldet saying, “I believe, on good grounds, that interest in Vin & Sprit is strong, and that the potential buyers have good possibilities to finance a bid at a very good price.”
We suppose only time will tell and until then he’ll probably keep us guessing.
ANOTHER LOOK AT SERVING FACTS CONTROVERSY
The TTB’s proposal to require alcohol beverages to label serving facts has gotten the attention of The Washington Post. To read the article, click here.
As reporter Cindy Skrzycki puts it: “Beermakers oppose this comparison because, unlike a 12-ounce beer, there is no standard measure for how much liquor, and thus how much alcohol, goes into a drink...Distillers have been working aggressively to get the serving-size alcohol content on the bottle because they think it would dispel the impression that spirits are more intoxicating than beer or wine...Vintners are concerned about the cost of the proposal, which would require lab testing of different wines. Besides, they complain, the nutrition-facts array would rob them of space for the artistic displays that are common on wine labels.”
Also, don’t forget this is your last week to make your comments known to the TTB regarding their proposed "serving facts" rule on labels.
WSJ PROFILES WINE ANTI-SNOB
Former alcoholic and Master of Wine Tim Hanni is responsible for far-reaching changes in the way restaurants feature wines. A wine advisor to hotels and restaurants including Ruth’s Chris and P.F. Chang’s, his anti-snob approach has opened millions of Americans to drinking wine without feeling intimidation, according to an article in the WSJ. He is against everything “elitist” that is associated with wine drinkers, but ironically is one of the first two Americans to hold the highest credential in the field, Master of Wine.
His innovative “progressive wine list” organizes wine from lightest to heaviest rather then grouping them by regions. He argues that no one has a superior palate to anyone else’s and that there’s nothing wrong with White Zinfandel (gasp).
Hanni recently launched Napa Seasoning Co. in 2006 and introduced Vignon, a condiment designed to balance flavor in food so that it pairs well with all wines.
OUT-OF-STATE RETAILERS LOOK TO IDAHO
The Specialty Wine Retailers (SWRA) may turn their attention to Idaho soon. According to a report in the Idaho Statesman, the SWRA has taken notice of an Idaho law that allows only retailers in reciprocal states to ship wine to Idaho residents. Fourteen states currently have reciprocal agreements with Idaho.
"Our argument would be that the practice is out of compliance with the Constitution and the Supreme Court. If Idaho lets Idaho retailers ship to Idahoans, they need to let out-of-state retailers ship to Idahoans," said Tom Wark, as quoted in the Idaho Statesman.
The SWRA doesn’t plan to file a lawsuit in Idaho yet, but lawsuits pending in New York and Michigan could force Idaho to change its laws.
WHOLE FOODS BAGS PLASTIC
Whole Foods says it plans to stop offering disposable, plastic grocery bags in all 270 stores in the U.S., Canada and the UK by Earth Day (April 22). That means roughly 100 million plastic bags will be kept out of the environment between that date and the end of 2008, the company says.
To take the place of the plastic bags, Whole Foods will offer several options: free paper bags in four sizes made from 100% recycled paper, reusable bags 80% made from recycled plastic bottles for 99 cents and canvas bags selling for $6.99 to $35, according to a report in USA Today.
The announcement comes at a time when cities, states and countries are considering eliminating plastic bags. San Francisco has banned them, while New York and New Jersey requires retailers to recycle them. Oakland is considering a ban and China announced a ban this month.
DON SEBASTIANI & SONS RELEASES MOOBUZZ
As a part of Sebastiani’s strategy of trading up its business to “higher priced appellation-specific wines”, the company is releasing MooBuzz. The brand will focus on super-premium Burgundy grape varieties grown in the Sonoma Coast appellation. Chardonnay and Pinot Noir will be featured as the exclusive varietals in the line.
The MooBuzz label features a stylized topographical map of the Sonoma coastline, further emphasizing the importance of wine’s origin, said the company. The suggested retail price for the 2006 MooBuzz Pinot Noir is $25. The 2006 MooBuzz Chardonnay will retail for $20. The wine will be marketed as a part of The Other Guys portfolio.
TERLATO WINES LAUNCHES SPIRITS DIVISION, FIRST SWISS VODKA
Terlato Wines International (TWI) announced today they have created a new luxury spirits division in conjunction with a new partnership with super premium vodka producer, Xellent Swiss Vodka. It is the first and only Swiss vodka, says the company.
The new spirits division will be named Paterno Imports and will include several spirits currently within the TWI portfolio (including Nonino Grappa and Tiramisu, a new Italian liqueur). Xellent Swiss Vodka will launch nationwide in the U.S. in February. It was originally imported by The Spirit of Hartford.
FREE THE GRAPES SUPPORTS REGULATED DIRECT SHIPPING
Amidst recent sting operations by Wine.com, accusations and unlawful shipping practices, Free The Grapes says the first provision of its Wine Industry Direct Shipping Code is for licensees to abide by state shipping laws. The grassroots coalition implemented the voluntary guidelines in 1999.
“With recent news of sting operations, it’s important to keep in mind the longer term strategies that have helped to expand consumer choice,” said Jeremy Benson, executive director of Free the Grapes. “Following the code’s guidelines is not only the right thing to do, but also a proven, practical approach to helping wine lovers.”
“The code and related model direct shipping bill have played a key role in demonstrating that limited, regulated direct shipping works,” said Steve Gross, Free the Grapes! board member and director of state relations, Wine Institute.
The code can be viewed online at http://www.freethegrapes.org/wineries.html#code.
WASHINGTON AND OREGON WINERIES RECEIVE FEDERAL FUNDING
The United States Department of Agriculture (USDA) has given $650,000 to 40 wineries in Oregon and Washington to promote their wines oversees, according to the Washington Wine Commission. The wineries are targeting key markets in Canada, Japan and the UK.
WSD BRIEFS:
KENTUCKY DISTILLERS’ ASSOCIATION has named Eric Gregory as its new president.
WASHINGTON WINE INSTITUTE is launching a Direct Shipping Compliance Affinity Program with Six88 Solutions, creators of ShipCompliant.
SONOMA VALLEY VINTNERS & GROWERS ALLIANCE (SVVGA) announced the addition of the following four board members: Michael Muscardini, Muscardini Cellars; J. Bruce England, EnglandCrest Vineyards; Tom Menzies, Pasatiempo Vineyard; and Carlo Cavallo, Sonoma-Meritâge Restaurant
RIMON WINES. The Seattle Times gave a great review to Rimon Winery’s Black Label Pomegranate Dessert Wine, which carries a suggested retail price of $38 for a 500 ml bottle. The winery is based in Israel’s Upper Galilee and is kosher-certified.
Until tomorrow, Megan
“What is written without effort is in general read without pleasure.”
Samuel Johnson
--------- Sell Day Calendar ----------
Today's Sell Day: 15
Sell days this month: 22
Sell days this month last year: 22
This month ends on a: Thur
This month last year ended on a: Wed.
YTD sell days Over/Under: 0
posted at 1:20 PM
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