UK: Kyndal changes name and unveils new strategy
The company unveiled a new corporate strategy to increase revenues, market share and profitability. This will include a "significant investment" in branding and own label initiatives, an intense focus on customer and consumer satisfaction, and a thorough restructuring programme which will result in some 200 redundancies, reducing the company's workforce from 700 to 500.
"It is appropriate we are naming the company after our founders, Whyte and Mackay, two Scottish businessmen who were highly focused on quality and customer needs," said chairman and CEO, Vivian Imerman. "Their commitment to product quality is deeply entrenched in our culture and still garners our products industry recognition. We have renamed the company in line with the new vision and strategic focus, which will, together with the significant investment, reverse our slowly deteriorating market position. The restructured company will enable the senior executive team and Whyte and Mackay's hard working employees to free the untapped potential of the company's own label and branded business."
The £70m investment package will be divided between strategic brand development and restructuring. Some £50m will be invested in strategic marketing supporting Whyte and Mackay's core brands - Whyte and Mackay, Vladivar and the malt portfolio, which includes Isle of Jura and The Dalmore, and the own label business, while £20m will be spent on restructuring the operations of Whyte and Mackay to create "a lean and highly competitive company".
Several bidders are in the running for Whyte & Mackay's Invergordon Distillers business and are conducting due diligence on the site, just-drinks understands....
Whyte and Mackay has said it is open to offers for its Invergordon distillery as it continues to restructure its business....
UK spirits group Whyte & Mackay is set to invest GBP100m (US$172.5m) behind a global relaunch of its key brands....
- Pernod's mood darkens over India - Analysis
- Why Scotch must drop the 'malts good, blends bad'
- Does alcohol accelerate the onset of dementia?
- Have spirits companies forgotten the mainstream?
- Cognac is back - is Remy Cointreau ready?
- Diageo to cut 105 jobs in Scotland, 50 in Italy
- Scotch sales set to soar, despite recent struggles
- Pernod Ricard YTD fiscal-2017 sales performance
- Distell acquires majority stake in Cruz Vodka
- Cognac needs innovation at bottom end - Pernod
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Myanmar - ISA Country Report
- Flavoured Powder Drinks in 2017: Confronting an Ageing World