01 November 2023
01 November 2023
“Don't be concerned that this will take away from anything to do with the trajectory of Penfolds” – TWE CEO Tim Ford.
Speaking to analysts, Michel Doukeris said “lapsed” Bud Light drinkers are “more open” to returning to the brand.
The site in Shahjanpur in Uttar Pradesh has been shut down as part of United Spirits’ “multi-year supply chain agility programme”.
The brewing major, which reported lower Q3 volumes, struck a prudent tone about the outlook for consumer demand in the two regions.
Miquel Torres Maczassek will take over the role from his father, Miguel A. Torres, in a year’s time.
The investment aims to meet increased domestic demand for canned beer and create export opportunities.
The news came alongside the US brewer’s third-quarter results, which also included changes to various financial forecasts.
The Turkey-based bottler now owns more than 99% of the business.
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Per GlobalData analysis, the NAB market has a strong outlook in terms of value and steady forecasting for volume up to 2026. The industry has been resilient to the pandemic and inflationary pressure as consumers continue to up their intake of NABs. Rising health and wellness trends mean that a growing number of consumers are swapping alcohol consumption for NABs while others are adding more drinks to their diet for improved hydration and extra nutritional value from fortified and functional NABs.
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