The U.S. distilled spirits market continued its upward trend in 2012, with total volume growth of 3 percent and revenue growth of 4.5 percent, the Distilled Spirits Council (DISCUS) reported at the trade group's annual briefing of Wall Street analysts and business media Wednesday. Volume grew to 202 million cases and revenue rose to $21.3 billion in the last calendar year and spirits' share of the alcohol market edged up to 34.3 percent from 34.1 percent, grabbing it from both beer and wine. Overall, DISCUS reported that the spirits market in 2012 saw $900 million in additional revenue over 2011.
Pabst Brewing Co. would look into buying Michelob from Anheuser-Busch InBev NV should the brand be divested to settle a U.S. antitrust lawsuit to block the $20.1 billion takeover of the rest of Grupo Modelo SAB. “We would consider the opportunity if it became available,” Daren Metropoulos, chief executive officer of Los Angeles-based Pabst, said today in an e-mail. “It’s premature to reach out” to AB InBev “right now. But we certainly like the Michelob brand.” (Bloomberg via San Francisco Chronicle)
The City of Philadelphia says the company that makes Yuengling beer owes $6.6 million in back taxes. The city filed a lawsuit in the Court of Common Pleas on Jan. 30, saying Pottsville-based D.G. Yuengling & Son Inc. has failed to pay business-related taxes, fees and penalties since December 2008. (CBS News)
New Hampshire beer drinkers won't have to dig deeper into their pockets for a glass of their favorite brew. The New Hampshire House voted 308-35 Wednesday against raising the beer tax. The House killed a bill that raised the tax a dime to 40 cents per gallon. The 30-cent tax is paid at the wholesale level. (Bloomberg BusinessWeek)
Diageo this week began using power from 100 percent renewable sources at its North American headquarters on Main Avenue. "By purchasing electricity derived from renewable sources, like wind or solar power, we will reduce our carbon emissions in Norwalk by more than 92 percent," said Diageo North America President Larry Schwartz. Diageo's Norwalk office joins three of the company's other sites, including Plainfield, IL, Relay, MD and Tullahoma, TN in using 100 percent renewable electricity. In addition, 50 percent of all the electricity Diageo uses globally now comes from low-carbon sources. (PR Newswire)