Suntory says an ‘hourglass’ effect is occurring in alcohol sales, with premium and value segments solid, as middle Australia cuts back.
Why it matters: Suntory’s two drinks businesses in Australasia have some of the biggest brands including Jim Beam, Maker’s Mark, -196 RTDs and V Energy.
Coca-Cola Amatil, the former ASX-listed Coca-Cola bottler in Australia which previously held the rights since 2009, was swallowed byDarren Fullerton, chief executive of Frucor Suntory, said the non-alcohol business had generated sales growth of 10 per cent-plus in calendar 2022 and sales continued to be solid. The alcohol brands had also been generating good growth of high single digits. “Both of these businesses are in significant growth,” he said.
Mark Hill, managing director of Beam Suntory, said Coca-Cola entities had done a good job in overseeing the alcohol brands, but it was time for Suntory to take control and step up the growth.
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