US: Nuvo liqueur brand up for sale
Nuvo was launched in 2007
French liqueur brand Nuvo - majority-owned by Diageo until last month - has been placed on the market.
A source at the brand's owners London Group, previously a joint venture between Diageo and entrepreneur Raphael Yakoby, confirmed to just-drinks today (10 July) that the six year-old brand is for sale. Investment bank Holihan Lokey has been hired to handle the sale, in a deal that could fetch US$50m, according to Reuters.
Diageo made a minority – and unspecified – investment to launch Nuvo, a blend of vodka, sparkling wine, and fruit nectar, in the US in April 2007. The drinks giant upped its stake in London Group to around 70% in 2010.
However, the brand, whose majority of sales are in North America, is now back in the control of Yakoby. A Diageo spokesperson confirmed to just-drinks today that it "returned its ownership stake to The London Group and Rafael Yakoby last month".
A lemon sorbet variant of Novo was launched in November 2011.
If Scotch sales receive an end-of-year bump this month, there's a good chance it is from whisky executives toasting a banner year for the brown stuff....
Since the great recession of 2008/2009 Diageo has transformed itself, primarily through acquisition, from being overly focused on mature markets to a more balanced geographic split and if, as seems li...
Some interesting developments have been occuring within the Vodka category since the publication of our previous global market review of the category....
Premium Tequila producer DeLeon has signed a partnership deal with rap artist and producer Sean 'Diddy' Combs, according to reports. ...
Heineken has announced the appointment of Loïc Latour to the post of president of its French distribution subsidiary, France Boissons....
- Is A-B InBev/SABMiller 'Mega-Merger' Off?
- Sustainability: What Craft Teaches Multi-Nationals
- Scotch Whisky Top 20 Export Markets 2014
- Pernod takes positives from China Cognac bounce
- Ethiopia competition to remain "intense" - Diageo
- Heineken to cut jobs in global shake-up
- Bacardi bags a Bourbon with Angel's Envy buy
- Bacardi Brown-Forman here to stay
- Moet Hennessy sells Scotch Malt Whisky Society
- Carlsberg takes on Stella Artois in new campaign
- Global rum insights - market forecasts, product innovation and consumer trends research
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- Heineken N.V. - Strategy and SWOT Report
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Champagne: Less Than Bubbly