Beam expects to increase its product portfolio in Chile by 50% in 2014, company executive says
April 22, 2014
– US bourbon maker Beam Inc (NYSE:BEAM) expects to boost its product portfolio in Chile by 50% in 2014, Nicholas Fink, president of the company for Asia Pacific and South America, said.
Apart from its namesake Jim Beam whiskey, Beam offers in Chile its tequila Sauza, the cognac Courvoisier and the brandy Fundador, among others. The company plans to expand its product portfolio in Chile mainly through premium whiskey and vodka brands since the country is one of its fast-growing markets with average annual growth of about 200%, Fink added.
Beam and its local distributor IDS will introduce the French vodka Pinnacle and Scottish whiskey brands in the second half of 2014 as well as Single Malt and Teacher's in 2015. Also, Beam is analysing the possibility of offering the Effen vodka in Chile in the future.
In January, Japanese brewer Suntory Beverage & Food Ltd (TYO:2587) announced the acquisition of Beam Inc, which will create it the world's third-largest distiller, after Diageo (LON:DGE) and Pernod Ricard (EPA:RI).
(c) 2014 AII Data Processing Ltd. All Rights Reserved. News Digest Produced by AII Data processing Ltd.