Diageo v Bacardi Rum Row - Statement from Destileria Serralles

By | 24 February 2010

FAIR COMPETITION IS THE AMERICAN WAY
MERCEDITA, Puerto Rico

Destilería Serrallés released the following statement from Roberto Serralles, vice president, in response to a 13-page invective issued by Diageo yesterday claiming a conspiracy to “kill” the Captain Morgan Rum production deal between Diageo/USVI.

"Destilería Serrallés has consistently highlighted the dangers of permitting that unreasonable and excessive rum subsidies be given to any corporation. Our main focus has been, and continues to be, to ask Congress to hold hearings and to study the merits of HR 2122. This legislation seeks to responsibly regulate the rum cover-over program by placing an-across-the-board 10% cap on subsidies to the rum industry. This is exactly how Puerto Rico has self-regulated itself for over 40 years.  All we are asking is that the playing field is kept level, that fair competition prevails, and quite simply, that everyone plays by the same rules.  These excessive subsidies, not only will allow monopolizing the rum market place, but quite frankly, they constitute bad policy since doing so diverts much needed funds from programs that would benefit the people of the Virgin Islands and Puerto Rico,” said Roberto Serralles, on behalf of Destilería Serrallés. “Assertions to the contrary are just delusional conspiracy theories.”

Sectors: Spirits

Companies: Diageo, Captain Morgan

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