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IN THE NEWS
TESCO LAUNCHES VALUE WINE
IN SHORT
UIforward DIAGEO has released a
TESCO has launched its much reducing packaging waste by 25% Andrew Carpenter, Tesco’s wine cautiously positive statement
talked about range of Value wines by 2010. To support this target, it category manager, said: “The on its performance over the
into the UK market. has launched all three products in market has changed rapidly over three months leading up to
The extension of the one-litre Tetra Prisma containers. the past 12 months, and we have October 2008.
supermarket’s Value range to responded quickly and Net sales growth for the
include wine comes in the effectively to these period stands at 6% and,
form of three Spanish conditions. While our despite difficult trading
wines: red, white and rosé, average bottle spend conditions, there has been
all of which will retail at is still over £4, an little material change to the
£2.89. The UK’s largest increasing number of group’s financial position. As of
supermarket states that customers are forced 30 September, Diageo’s net
the launch of these to limit their spend. assets have been valued at
wines, sourced from Felix There has never been £4.1 billion.
Solís Avantis, “meets a more suitable time Diageo CEO Paul Walsh
customers’ changing to introduce our announced he was pleased
needs in the current first ever Value with the group’s performance
economic climate”. wine, giving Tesco given the challenging
As well as serving customers an even economic situation. He added:
customers’ financial greater choice “While we have not seen
prudence, Tesco is also of great quality significant adverse changes in
keen to demonstrate wines at fantastic our markets in the first quarter,
its commitment to prices.” we will be alert to the impact
the recent dislocation in the
CONSTELLATION’S STOCK DROPS Constellation have fallen by 17%, although City analysts financial markets is likely to
UIforward Constellation Brands experienced its biggest single remain positive about their long-term value. have on trade customer and
fall in value since March 2007. At the height of US In August, Constellation announced its plan to sell consumer behaviour during the
economic uncertainties, 2 October saw the company’s more than 20 of its Australian vineyards and 10 rest of the financial year.
shares fell 8.8% on the NYSE. So far in 2008, shares in production plants in order to reduce company debt. However, based on our current
performance, we can repeat
the guidance we gave in
3 Oceans buys Palandri and Baldivis
August for organic operating
profit growth for the coming
year to be within the range of
3 OCEANS WINE COMPANY has and wine styles into the European The Palandri name marks an 7% to 9%.”
announced the purchase of markets over the coming important addition to this recently
key assets from Palandri Ltd, weeks and months.” A portfolio of formed company’s brand portfolio.
which went into administration wines, featuring the new-look Established in March 2008, 3
this October. Palandri, will be launched in Oceans is based in Perth, Western UC DAVIS has opened its new
Selected assets bought by the London at the Australia Day Australia. The business has Robert Mondavi Institute for Wine
company include Palandri’s winery Tastings in January 2009. positioned itself as a producer and and Food Sciences.
in Margaret River, certain vineyards David Hodgson, general merchant of premium wines from In 2001 the project received a
from the same area, as well as manager of 3 Oceans Wine the neighbouring Margaret River US$25 million donation from
those in Frankland River, key Company’s UK and European and Frankland River regions. Mondavi in gratitude for the
inventories and all brand names, operations, further qualified the expertise and services supplied by
which include the Palandri and acquisition of these assets saying, the university during the growth of
Baldivis labels. “The Palandri brand has built his wine empire.
David Wheeler, CEO of 3 Oceans a reputation for wine excellence, The $73m complex will house
Wine Company, commented: “We and has even greater potential in the university’s world renowned
are delighted with the assets we this region under the new department of viticulture and
have purchased and look forward ownership and stewardship of 3 enology, as well as its department
to releasing the new labels Oceans Wine Company.” of food science and technology.
Log onto
www.wineinnovation.co.uk to find out
8
more about the Wine Innovation Awards 2009
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