Tag Archives: Wines

Coalition of NGO Business Groups seek FGs reversal of new excise duty on alcohol, tobacco

The Federal Government has been urged to reconsider its decision to raise excise duty on locally produced alcohol and tobacco as the new policy risks threatening the over N420bn in investments so far made in the wine and spirits industry.

The call was made by a coalition of non-governmental organisations (NGOs) made up of the Business Renaissance Group and Sustained Development Collective while speaking with journalists in Abuja.

CPC endorses FG’s move to increase excise duty on alcohol and tobacco

The Consumer Protection Council (CPC), on Tuesday put its weight behind the Federal Government’s decision to raise the excise duty rates on alcoholic beverages and tobacco products.

The agency’s Director-General, Mr Babatunde Irukera, said the increase would serve as a measure to reduce the risks of abuse and disease. Irukera said that though CPC protected the rights of all consumers and their prerogative to make personal lifestyle choices, it, however, encourages responsible consumption in all circumstances.

MAN opposes excise duty rate increase on alcohol, tobacco; seeks its reversal

The Manufacturers Association of Nigeria (MAN) has called on the Federal Government to reverse the newly proposed excise duty rate increase on alcohol and tobacco products, saying that its implementation will lead to job losses and plant closures in the affected industries.

The President, MAN, Dr. Frank Jacobs, spoke on the issue in Lagos on Wednesday while addressing the media on the association’s position on the African Continental Free Trade Agreement.

NAFDAC raids counterfeiter’s lair in Lagos, Abuja; impounds wines and spirits worth millions

The National Agency for Food and Drug Administration and Control (NAFDAC) on Friday raided a shop at the popular Oke-Arin market, Balogun, Lagos State and arrested a trader who allegedly manufactures and bottles counterfeit wines and spirits.

The agency said that they acted on a tip-off about some individuals who deal on counterfeit wines and spirits of popular brands.

The enforcement team of NAFDAC said they discovered labeling materials, corks, funnel, filters and empty bottles of registered liquor brands in a shop on Isa Williams Street, Oke-Arin Market, Balogun.

South African wine region hit by wildfire

South African authorities say raging wildfires in the country’s wine region near Cape Town have destroyed part of the country’s oldest wine estates, while some mountain slopes above Cape Town’s exclusive beach enclave of Llandudno were also affected.

Diageo sells last remaining wine asset in the US as it exits category

Diageo has completed the sale of its remaining wine brand in the U.S with the sale of Chalone Estate Vineyard in California to the Foley Family Wines. The terms of the sale was not disclosed.

Diageo has been disposing of its wine brands since last year when the company’s CEO, Ivan Menezes stated that “wine was no longer core” to the company’s strategy.

Italy overtakes France to lead world in wine production

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Italy has overtaken France to lead the world in wine production at 50.37 million hectoliters harvest in 2015-16, according to data compiled by the European Union Department for Rural Affairs and Agriculture, which keeps track of wine production estimates for all 28 member states of the EU through September 2016.

Diageo in Search of Wine Asset Buyers as it Looks to Exit Sector

Diageo, the world’s leading spirits maker has confirmed that it still intends to exit the wine business at its earliest convenience.

Speaking to the media at the company’s Capital Market Day in New York last week, CEO of Diageo, Ivan Menezes, said that with the exception of its Turkish and Indian operations, the company will exit the wine sector. “We’re virtually out,” he said on Wednesday. “There are some local businesses in Turkey and a little bit sitting in India and there is a couple more in California that didn’t fit into the package of what we sold to Treasury.”

Diageo sells-off Argentinian wine assets

Diageo Plc, the drinks maker behind such brands as Guinness and Johnnie Walker scotch whiskey has sold off more of its wine assets, this time to Grupo Penaflor, the largest wine producer and distributor in Argentina.

Diageo’s wine assets sold include Navarro Correas and San Telmo wine brands, complete with production sites and vineyards.

Diageo sells wine stake to focus on spirits and beer

Diageo, the world’s largest distiller and parent company of Guinness Nigeria Plc has sold off most of its wine businesses in the United States and UK to Treasury Wine Estates, an Australian company, in a deal worth US$552 million.

The transaction involves sale of Sterling Vineyards, Beaulieu and Acadia in the US and Blossom Hill, the second-biggest selling wine by value and volume in the UK.