William Grant toasts 2009 growth

William Grant & Sons saw group operating profits climb from £95.1million to £103.6m in 2009 as the Scottish firm reaped the rewards of its first full-year distributing Stolichnaya vodka in the US on behalf of SPI Group.

Turnover at the distiller also grew by 40% to £838.3m as it continued to invest heavily behind its core global brands and established a marketing office in India.

The company also completed the first full year of its European relationship with Rémy Cointreau, which included a new joint venture in France and a distribution deal with the company’s UK subsidiary First Drinks Brands.

A company statement said the growth was attributable to the continued success of its core brands, including whisky brands Glenfiddich, The Balvenie and Grant’s alongside Hendrick’s Gin and Sailor Jerry spiced rum.

Chief executive Stella David said: “We remain focused on becoming the most coveted branded spirits company in the world and shall continue to invest in Glenfiddich and our other core brands to secure the long-term future of the business.

“Thanks to our continued success, we have recently been able to acquire Tullamore Dew Irish Whiskey, allowing us to enter the dynamic Irish whiskey category and build another truly iconic brand.”

Tullamore Dew was acquired along with the Irish Mist, Carolans and Frangelico liqueur brands in a £260m deal with C&C group in May this year.

However, just five months later, the liqueur brands were sold off again to Gruppo Campari, with William Grant claiming the offer was too “compelling” to turn down.

Meanwhile, accounts filed with Companies House have revealed that former William Grant chief executive Roland van Bommel was given a “golden goodbye” of £853,000 when he stepped aside in August last year to be replaced by David, who at the time was global chief marketing officer at Bacardi.

According to the company, van Bommel had “personally decided” to leave the company after five years in the role.

Alan Lodge, 06.10.2010