Comment - Bacardi's Cognac Ends Beam Tag-Team
If, indeed, there still is a Beam picture nowadays. We'll come back to that.
Bacardi's announcement earlier this week that it will launch “a new expression in Cognac in the US in the early-summer”, puts paid to those rumours suggesting the firm would consider playing Robin to Diageo's Batman in a swoop for Beam. While Diageo would love to get its hands on the cash cow that is Jim Beam, anti-trust regulations would pressure the drinks giant to choose between its stake in Moët Hennessy and Beam's Courvoisier Cognac brand.
Enter Bacardi – or so the theory goes.
It would appear, however, that Bacardi is not prepared to wait for a 'phone call from Diageo. Rather, it'll release its own Cognac brand – one that's “very smooth and sets it apart from other Cognacs”, I'm told - in the US later this year instead of court Courvoisier.
Hence, my bet is off.
Oh, and my reference earlier to a fading Beam picture?
Well, the higher the company's share price gets, the more feint the picture gets.
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