BELGIUM: Remy Cointreau silent on Diageo bunk-up talk
The chairman of Remy Cointreau has confirmed that the company is set to create its own distribution company in China and South-East Asia.
Speaking exclusively to just-drinks yesterday (28 November), Dominique Heriard Dubreuil refused to confirm, however, whether the French firm has held discussions with Diageo about a potential deal when Remy Cointreau leaves Maxxium in 2009.
Last year, Remy Cointreau announced that it would leave Maxxium, the global distribution joint venture with Vin & Sprit, Fortune Brands and Edrington Group, in March 2009. The exit cost the French company EUR241m (US$324.3m) before tax.
"We are working on it, that's all I can say at the moment," Heriard Dubreuil told just-drinks. When asked if Remy Cointreau had met with Diageo to discuss a possible tie-up between the two, Heriard Dubreuil said: "We've been preparing. I'm not going to give you any tips at the moment, because we've been talking, and discussing also with our partners in Maxxium."
Speculation has suggested that Remy Cointreau has prepared its exit from Maxxium as a pre-cursor to an acquisition by Diageo, a claim both sides have declined to comment on in the past.
"We definitely have said that we are going to set up our own company in China and South-East Asia," Heriard Dubreuil noted. "The form of the company has not been defined yet, but we will be operating it ourselves. That is all that has been disclosed at the moment."
"We are a loyal and positive partner of the Maxxium joint venture until 30 March 2009," Heriard Dubreuil concluded. "There's no reason to disclose much before then."
Diageo has today (9 May) announced it is to invest EUR650m (US$1bn) in its brewery infrastructure in Ireland, including the building of what will be its largest brewery, however, the company also said...
The top ten most visited stories on just-drinks this week:...
Big Rock Brewery Income Trust has announced the appointment of Bill McKenzie to the position of vice president, sales with effect from 2 July....
Coming up at this year's London International Wine & Spirits Fair are products from Constellation, Diageo and Cocoa Farm. To keep track of all the LIWF news see our diary every day....
Diageo has reported that organic net sales growth for the nine months to the end of March were in line with the company's performance in the first half of the year....
The Australian unit of Diageo has confirmed details of a change of managing director....
Diageo has refused to be drawn on speculation that it will decide the fate of its Guinness brewery in Dublin this week....
Increased excise on pre-mixed spirits in Australia is expected to boost beer sales for Foster's and Lion Nathan....
- The end is nigh for Global Travel Retail - Comment
- Five ways small brands can beat big players
- Interview, Bulldog Gin founder Anshuman Vohra
- Pernod Ricard's Q1 results - Preview
- Pernod Ricard Q1 2017 results by region, brand
- Diageo most at risk to Thai alcohol ban - analyst
- Constellation sells Canadian wine unit for US$761m
- Jobs at new India hub won't affect staff - Diageo
- Stumbling UK Pound prompts Conviviality price hike
- Pernod Ricard cheers US move to ease Cuban limits
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020