Tag Archives: alcobev news

Beam Suntory moves towards 2030 goal, launches Oaksmith in North India

Following a massive success in various markets since its launch, Oaksmith, a premium Indian whisky and the Iconic portfolio from The House of Suntory – Yamazaki, Hibiki, Toki – and Japanese craft gin – Roku –  are all set to expand presence in North Indian states including UP, Haryana, Chandigarh, Rajasthan, Punjab and Delhi.

Beam Suntory, the global premium spirits company, has introduced a range of five premium spirits in markets of North India, signaling its commitment and strategy to grow in India in line with its ambition to reach USD 1 billion in revenue by 2030. Continuing the momentum after launching successfully in pilot markets in 2019, the entry of five premium brands in North Indian market is a huge stride for the company to tread strongly towards its 2030 ambition. The launch of Oaksmith in North India is key to Beam Suntory’s growth strategy in India.

“India is a strategic market for Beam Suntory, and we are thrilled by the appreciation that Oaksmith, Toki, Hibiki and The Yamazaki have received from consumers in India. The growing premiumization of the Indian market and the appreciation for finely crafted spirits make this an exciting time to expand the launch of these brand in India. Indians today are exposed to global trends, which inspired the creation of Oaksmith for whisky lovers in India,” says Neeraj Kumar, Managing Director of Beam Suntory India. On Oaksmith and Oaksmith Gold, he said, “The beautiful blend incorporates our East Meets west competitive advantage and incorporates years of tradition that the Beam Suntory family upholds while showcasing Shinji-san’s award-winning blending capabilities making it a whisky that, quite simply, no one else could possibly create. We are excited to launch our brands across North India with its diverse offerings in terms of culture, people and places. We see a growing opportunity for premium quality spirits across these states”

Lotus Family Trust to pick up 7.13% stake in Tilaknagar Industries

Alcoholic beverage manufacturer, Tilaknagar Industries Limited (TI) in an intimation to the stock exchange has said that its Board of Directors has approved issuing over one crore eighteen lakh equity shares on preferential basis to Barclays Wealth Trustees (India) Pvt. Ltd. acting as a Trustee of Lotus Family Trust.

TI said that the preferential issuance of equity shares would be done for cash at a price of `53 per share, including a premium of `43 per share. After the issue of the aforesaid equity, the Lotus Family Trust would hold 7.13% whereas the promoters would continue to hold nearly 49% equity in TI. The company has got shareholders’ approval for the same at an Extra-Ordinary General Meeting on November 27, 2021.

Recently, TI had reported having completed its debt-restructuring process which included one-time settlements (OTS) with banks, resulting in a financial turnaround. As part of the process, the company had entered into a long restructuring agreement with Edelweiss Asset Reconstruction Company (EARC) wherein total loans of `523 crore have been restructured at `344 crore at an interest rate of 9%.

Earlier, TI had issued approximately 1.39 cr shares to Edelweiss Asset Reconstruction Company Limited (EARC) at a price of `24.36 per equity share (including premium of `14.36 per equity share). The allotment of shares on preferential basis to EARC was done in respect of conversion of part of the debt owed to EARC by the company amounting to approximately `33.86 cr.

The company has also said that the Board of Directors has approved issuing over Twenty Seven Lakh Equity Shares to Edelweiss Asset Reconstruction Company Limited (“EARC”), an asset at a price of `53 per share (including a premium of `43 per share), fully paid-up towards restructuring of debt by way of conversion of part of the debt owed to it by the Company amounting to over Fourteen Crores into Equity Shares of the Company on preferential basis.

Led by strong growth and sharp decline in finance costs, TI, maker of the famous Mansion House brandy, registered profit in the April-June quarter of the current financial, after a series of quarters. The company also reported a 140% increase in net sales to `135.30 crore in the quarter ended June 2021 as against `56.38 crore in the same period a year ago.