The London International Wine Fair is widely regarded as the world’s leading trade tasting with some 20,000 wines. The Fair delivers a unique opportunity for producers, importers and buyers to network, taste and focus on business. Free to visit and trade only – taking place at ExCeL London, 17-19th May.
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Another week, another rumour linking Diageo with an acquisition. This time, it's Stock Spirits on the menu.
That Stock would be available to buy is not really up for debate. The spirits company, which operates mostly in central and Eastern Europe, is owned by private equity firm Oaktree Capital Management, and private equity by its very nature is a build 'em and sell 'em mindset. That Diageo is interested is also quite likely, just-drinks has learnt.
Be warned, though: Word getting out that Diageo is sniffing about may result in the acquisition fee getting a curious boost. I remember, about 25 years ago, my step-father putting a bid in on a house. Once the builder learnt that my step-father had the same surname as a well-known and (thought-to-be) wealthy family in the area, the asking price moved somewhat north.
We watch with calculators ready.
Elsewhere last week, PepsiCo polished its trumpets to hail what it claimed is the world's first PET bottle made from plant-based, fully renewable resources. As commodity costs continue to give our industry headaches, the launch could give PepsiCo quite a lift in controlling rising costs. Even if the company maintains that the bottle and costs aren't related.
Finally, here in the UK, the alcoholic drinks industry proffered a thumbs-up for the Public Health Responsibility Deal, announced last week. Head over here to see a round-up of our coverage of the partnership, which has got some health groups in a lather.
Until next time...