Convenient Alcohol: Spirits Companies, Part 1
The required information (if available) for Diageo and Bacardi have been provided in columns C-D, rows 4-8 of the attached spreadsheet. Over the past 24 months, Diageo and Bacardi have launched several ready-to-drink products under their existing brands.
- In fiscal 2020, Diageo recorded $1,284 million (£966 million) in net sales for its ready-to-drink category, which represented 7% of the company’s total net sales.
- In May 2019, Bacardi partnered with Tesco Group to launch ready-to-drink brand Breezer in the United Kingdom.
- From 2019 to 2020, the sales volume of Bacardi’s ready-to-serve cocktail products increased by 11% to 88,000 cases.
Bacardi is a privately-held company and has not published any annual reports. Diageo and Bacardi have not made any investments/acquisitions or launched new ventures into the convenient alcohol space over the past 24 months. Diageo also does not own any brands that focused solely on ready-to-drink products and has not launched any new brands in the convenient alcohol space during the same period.
To identify the required information, we first examined the content published by Diageo and Bacardi. An examination of the companies’ websites, press releases, social media pages, and the 2020 annual report of Diageo did not provide any information on investments/acquisitions/ventures in the convenient alcohol space for both companies. These sources also did not reveal any information on Diageo launching any new brands in the convenient alcohol space.
Next, we conducted a press search for the required information. An examination of alcohol/beverage publications and general media outlets did not provide any information about investments/acquisitions/ventures for both companies and new brand launch for Diageo. It is only known that Diageo increased its stake in a company (Seedlip) that went on to launch ready-to-drink products and itself introduced several new ready-to-drink products under its existing brands over the past 24 months. Bacardi has recently launched a new ready-to-drink brand (Breezer) and several ready-to-drink products under existing brands (Bombay Sapphire and Bacardí).