US: Beam Inc hits back at Sidney Frank lawsuit
Beam says it will prevail
Beam Inc is “confident” of victory in a legal battle with Sidney Frank after the US importer filed a lawsuit against the global group and a subsidiary for US$100m.
According to reports on Friday (1 March), Sidney Frank claimed in documents filed at a Manhattan court that Beam denied it access to Michael Collins Irish Whiskey after Beam bought the brand's owner, Cooley Distillery. Sidney Franks said it had an outstanding contract with Cooley to distribute the whiskey, Bloomberg reported.
However, in an emailed statement to just-drinks today, Beam said: “We have been in commercial discussions with Sidney Frank regarding this matter and while we don’t discuss the details of matters in litigation, we are confident in our position and that we will prevail.”
Sidney Frank lodged its claim at the US District Court in Manhattan on Friday. The importer is suing Beam and Cooley for breach of contract, unfair competition and tortious interference with the importer’s business relationships with distributors throughout the US, Bloomberg said.
Beam closed its purchase of Cooley, for US$95m, in January last year.
Over the last 10 years RTD's as a category may not have grown at anywhere near the level it did between 1998 and 2003 but it has, nevertheless enjoyed steady global growth. This reality flies in the f...
- Will Tequila Learn from Scotch Whisky's Mistakes?
- Comment - Beer - Does 'Craft' Work?
- Solving the diet drinks dilemma in the US
- SABMiller, Meantime Brewing say goodbye to 'craft'
- Comment - How to Target Cognac's Mok Generation?
- Whyte & Mackay takes on Flor de Caña in UK
- Diageo opens Johnnie Walker House in Singapore
- Emperador overhauls Whyte & Mackay labels
- SPI Group US, Canada sales chief departs
- Soaring Prosecco sales good for Champagne
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Beam Suntory Inc. - Strategy and SWOT Report