Alcoholic Beverages/Drinks

The billionaire who upended the beer industry with White Claw hard seltzer has turned his sights on vodka. Anthony von Mandl is releasing on Tuesday a line of vodka sold under his popular brand. Straight and flavored versions of White Claw Premium Vodka will be sold in bottles; vodka and soda cocktails will be available in 12-ounce cans. In a rare interview, Mr. von Mandl—who is 73 years old and the sole owner of White Claw’s parent company, the Mark Anthony Group—spoke about…

California’s wine industry is facing a potential short-term cash crunch and long-term loss of funding from the collapse of Silicon Valley Bank, which was a significant lender to vineyards and winemakers.Hundreds of wine producers borrowed from the bank and deposited their cash there, including some small, midsize and privately held businesses that are trying to make payroll or loan payments.  “It could be devastating,” said John Balletto, president of family-owned vineyard and winery…

Budweiser brewer Anheuser-Busch InBev SA BUD -0.74% reported a fall in sales volumes for the fourth quarter as drinkers in North America bought less of the company’s beer amid rising prices. The drop comes as companies across the consumer-products industry grapple with how much they can raise prices to offset rising costs without deterring shoppers. For much of the past year, AB InBev said drinkers weren’t giving up their brews despite…

The Chicago-based company had long been kept out of the Super Bowl because rival Anheuser-Busch InBev BUD -1.79% NV had exclusive rights to be the sole alcohol brand to be featured during the game, which it gave up last year. In anticipation of its return, Molson recently ran print, online and outdoor ads asking consumers which of its two light beers—Miller Lite or Coors Light—deserves the brewer’s coveted Super Bowl spot. The buildup has been part of an elaborate Super…

3M Co. MMM -5.37% said it is cutting 2,500 manufacturing jobs as the company confronts difficult business conditions in its overseas markets and weakening consumer demand. The maker of Scotch tape, Post-it Notes and thousands of other industrial and consumer products said Tuesday that it expects lower sales and profit in 2023 after demand weakened significantly in late 2022, pulling down quarterly performance. The St.…

Diageo DEO 1.44% PLC has agreed to buy Don Papa Rum, a high-end dark rum from the Philippines, in a deal worth up to about $473 million, as the liquor giant bids to move further upmarket. The owner of Johnnie Walker whisky and Tanqueray gin will pay 260 million euros, equivalent to $281 million, upfront for Don Papa, with a further potential consideration of up to €177.5 million through to 2028 subject to performance.…

After pushing prices to new heights last year, some companies are starting to pull back. It could be another sign that inflation is starting to turn a corner. Conagra Brands Inc., which makes Hunt’s ketchup and Slim Jim meat sticks, raised prices 17% in its latest quarter, on top of two previous quarters, when it increased prices more than 10%. The company said it is done boosting prices for now. Conagra’s sales volumes fell 8.4% for the quarter ended Nov. 27, which the company…

Many Americans took to mixing cocktails at home during the pandemic, boosting liquor sales. Now, with inflation squeezing disposable incomes, big distillers are betting on another round of home drinking as consumers economize.Historically, around 80% of all U.S. alcoholic drinks sales were for home drinking, according to IWSR, a drinks market-research firm. That level rose to 90% during the pandemic, and sales at bars aren’t likely to return to pre-Covid levels for another four to five years, IWSR says. To capitalize,…

For much of last year, U.S. beer sales seemed largely unaffected as rising prices squeezed shoppers’ pocketbooks. Some beer drinkers traded up to fancier brands as an affordable indulgence; others switched to cheaper suds.  That changed after price hikes took effect across the industry in October. U.S. demand for beer fell in the last three months of the year as consumers reacted with sticker shock. Corona brewer Constellation CEG -1.20% Brands Inc. now says it plans to…

The long-building craft-beer boom is showing signs of slowing down.Craft beer’s popularity has risen nationwide for more than a decade, and breweries have become a calling card for up-and-coming neighborhoods and communities, giving residents and visitors new places to gather and enjoy a taste of their towns. But in 2023 the smallest number of new breweries in over a decade will open, the Colorado-based trade group Brewers Association predicts.  The bar-stool talk among beermakers and their customers is…