GLOBAL: Maxxium breaks EUR2bn barrier for FY
Maxxium Worldwide has broken through the EUR2bn (US$2.7bn) barrier for the first time in full-year turnover.
The global distribution company, jointly owned by Beam Global Wine & Spirits, Remy Cointreau, The Edrington Group and V&S Group, said yesterday (9 May) that total turnover for the year to 31 March totalled EUR2.06bn, a leap of 25% over the previous year. The figure marks a doubling of the EUR1bn turnover delivered in 2000, the venture's first year of operation.
Maxxium said it had benefited from the brands acquired in mid-2005 by Beam Global Spirits and Wine from Allied Domecq and from the expansion in markets covered by the Global Travel Retail division.
Core brands, such as The Famous Grouse, The Macallan, Jim Beam, Remy Martin, Cointreau, Piper Heidsieck, Absolut and Plymouth Gin, grew by 9.5% over 2006. The company also said that, from next year, Canadian Club, Sauza and Cruzan would also be considered core brands.
Rémy Cointreau, which owns brands including Mount Gay rum, Piper-Heidsieck Champagne and its namesake Cognac range, announced in November that it will leave Maxxium in March 2009. The decision will enable Rémy to consider alternative distribution options in its priority markets such as Asia.
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