Pernod Ricard NZ is selling its sparkling wine brands including Lindauer and some of its cheaper and non-core brands for 88 million dollars.
This sounds like a massive amount of money but to put things in perspective, Independent Liquor sold in 2006 for 1.26 billion dollars. Independent’s main brands were those godawful alcopops and RTD’s that young people drink.
Now I know that young people also drink the cheap sparkling wine brands and that Bernadino, Chardon and Aquila are responsible for young women’s (and some older male schoolteacher’s) excessive drinking, but in the final count cheap spirits in kiddy packaging are the main contributors to irresponsible alcohol consumption. The fact that this crap sold for over 14 times the value of the wine brands (the largest selling sparkling wine brands in New Zealand) shows where Independent Liquor’s new owners thought the growth was.
At least, on recent reports, Independent Liquor, majority owned by Australia’s Pacific Equity Partners and Hong Kong-based Unitas Capital only managed a revenue rise of 6 million dollars (just 1.4% increase) but posted an annual loss of 44 million dollars, up on the 34 million dollars they lost last year.
You can burn your fingers when playing with the devil.
3 comments:
I never turned water into alchopop, or whatever it's bloody called.
It's a shift in economic demographics.
The young buggers have all the money.
Bastards.
They should be saving it for my pension.
I'm not happy to admit it, but you're right. Bernadino, Chardon and Aquila bought from the 24hour Countdown down the road from my Dunedin flat kept me drunk AND able to pay my power bill through my second and fourth years of university.
Post a Comment