Exclusive - US: Nuvo is doing well, but time to move on - owner
Nuvo is on the market
The owner of French liqueur brand Nuvo says it is “doing well”, but he is selling it to focus on other new products.
Speaking exclusively to just-drinks today (12 July), entrepreneur Raphael Yakoby, president of Novo's owners London Group, said “several” companies were interested in the brand, a blend of vodka, sparkling wine, and fruit nectar, and “teasers” have been sent out. It emerged this week that Nuvo is on the market.
“The brand is very healthy and is doing very well,” he said.
Asked why he was selling Nuvo, Yakoby said: “This is what I do, as an entrepreneur. I've had it for a few years now and we don't have the infrastrucutre in place to expand the brand.”
Yakoby said no price had been set for Nuvo, but it will go to the highest bidder.
Yakoby said he has other brands he is working on, notably Birthday Cake wines. The entrepreneur has set up Birthday Cake Vineyards, with his industry friend David Kanbar, who helped launch Skinnygirl.
Yakoby claimed Birthday Cake is “the world's first confectionary wine”, with its two variants Cheesecake and Black Forest Cake. The brand was given a “limited” launch around three months ago, with plans to roll it out in the US in future, Yakoby said.
The entreprenuer first came to prominence around ten years ago with the launch of French liqueur brand Hpnotiq, which he sold for a reported US$30m to Heaven Hill Distilleries.
- The dangers of squaring up to your competitor
- Whatever happened to binge Britain? - comment
- Constellation and Ballast Point's "sticker shock"
- The US beer market - A level playing field for all
- Remy Cointreau's Q2 and H1 - preview
- Diageo Australia appoints commercial head
- Sidney Frank CEO to head Clooney's import co
- A-B InBev to "kick the tyres" at Coca-Cola
- Irish whiskey brands could fail without bulk
- Diageo sells off United Spirits' Bouvet Ladubay
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research
- Future growth opportunities for global spirits
- Global Wine Market to 2019 - Market Size, Development, and Forecasts
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Wine Market: News and Events September 2015