UK: Suitors eye buoyant Whyte & Mackay
Brannan told just-drinks today (16 August) that there has been interest in Whyte & Mackay in recent months after a revamp of the company's brands led to rising sales.
"The fortunes of the company have improved, the brands are doing well and consequently there has been a bit of interest in the company in the last few months," he said.
"If you look at the spirits industry, there is not much left to buy and I think people view us as a more attractive proposition than a few years ago. A number of people have approached us."
However, Brannan refused to be drawn on reports that Indian spirits giant UB had registered any interest in Whyte & Mackay or its brands. "We certainly wouldn't comment on an individual company," he said.
Brannan said Whyte & Mackay's shareholders would decide whether to sell the business, should the company receive an offer. Chief executive Vivian Imerman is the company's largest shareholder, holding around a 90% stake.
Brannan added: "However, my understanding of the shareholders' intentions is they really want to build the business and that they see a really bright future for the business."
Whyte & Mackay is looking to the emerging markets of Eastern Europe, Latin America and Asia to grow sales of its portfolio,which includes Scotch whiskies Whyte & Mackay and Isle of Jura, as well as Vladivar vodka.
Brannan said that the company was "on the verge of major distribution deals" in those markets but declined to comment further.
Last month, the company posted a 28% leap in operating profit to GBP11.1m (US$21.1m) for the year to 30 September. Turnover was up 4% to GBP149m.
The company has also decided to keep its Invergordon Distillers business due, it said, to the growth of its brands and a rise in prices for private-label Scotch in the UK.
In a bid to raise its profile with younger urban drinkers, the UK vodka brand Vladivar is looking to assist bands as they seek to make their way in the music business. David Robertson and Ben Cooper r...
Scotch whisky group Ian Macleod Distillers has rubbished reports that it is in talks to sell the company to India's UB Group....
Two top directors have reportedly quit UK distiller Whyte & Mackay....
A top executive at Indian drinks giant UB Group has insisted the company is prepared to walk away from talks to buy Whyte & Mackay. P. J. Murali, CFO of UB's distilling arm, United Spirits, told just-...
Talks between UB Group and Whyte & Mackay are still very much on, according to a top executive at the Indian drinks giant....
Takeover talks between UB Group and Whyte & Mackay are still ongoing, according to the chairman of the Indian drinks giant. UB chairman Vijay Mallya said the two companies are still negotiating over a...
Heaven Hill Distilleries has changed production and distribution of its White Satin gin brand....
India's UB Group has reportedly set up its first wine subsidiary in the state of Maharashtra, the country's wine heartland....
- What Brexit means for drinks industry? - Analysis
- Is there a future for the global beer brand?
- What does Brexit mean for AB InBev's SAB deal?
- Can fruit cider survive UK slowdown? - Focus
- Non-Scotch Whisky Essentials, Part II
- The UK Referendum - just-drinks Live Blog
- Aldi dealt alcohol sales blow in Australia
- Maxxium eyes US$1.4bn opportunity in UK spirits
- Ex-William Grant CEO Stella David re-joins Bacardi
- UK spirits producers braced for Brexit impact
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Spirits and Wine: Corporate Overview
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends