[puamelia] via flickr
The company, formally known as Becle, submitted its outlook for shares issue to the Mexican Stock Exchange in September 2016. However, victory of Donald Trump in the presidential elections in the US brought Mexican IPC index down by nearly 7% on fears that the Republican will begin protectionist policy in the US economy, or will decide to revise terms of the North American free trade agreement.
One of the sources familiar with the situation said that now the Mexican assets simply do not look attractive, yet the situation may change in the next year. Rumors on Jose Cuervo’ listing began appearing four years after the world's largest producer of premium alcoholic beverages, British company Diageo, refused to buy Jose Cuervo.
Mexican company is an independent player in the industry. This is fairly rare for alcoholic beverages market as traditional leaders there are large conglomerates. Jose Cuervo specializes in production of tequila and liqueurs from natural agave since the 1700s., when the Mexican territory was controlled by government of Spain. In addition to tequila, the company produces rum under the brand Kraken and Bushmills whiskey.
The company was going to use placement on the stock exchange to boost growth either organically or through acquisitions. Jose Cuervo’s share in the US tequila market is 27.4%. In Mexico, the figure reaches 32.6%, according to the company. Sales in the first half of the year increased by a third to 12.2 billion pesos ($ 588 million), net income doubled to 7.2 billion pesos.
Alcohol consumption in the world in 2015 decreased for the first time in 15 years, yet the US has become a notable exception to the overall picture, according to Euromonitor International’s study.
Global consumption of alcoholic beverages in the past year decreased by 0.7% to 248 billion liters. The most significant reduction was observed in Ukraine - 17%. In China, the largest spirits markets in the world, the decline was 3.5%.
Meanwhile, alcohol consumption in the US rose to 30.6 billion liters to 29.8 billion liters a year earlier. According to Euromonitor analysts, this is partly due to improved economic conditions, strengthening of the labor market, and partly - continuing spread of crafting beer.
Modern consumers are moving from "simple" alcoholic drinks to more "complex" and expensive. Thus, sale of vodka in the past year decreased from 3.3 billion to 3.2 billion liters, rum - from 1.38 billion to 1.36 billion liters, while consumption of tequila and mescal increased from 263 million to 275 million liters, cognac - from 99 million to 104 million liters, and wine - from 27.4 billion to 27.9 billion liters.
source: ft.com
One of the sources familiar with the situation said that now the Mexican assets simply do not look attractive, yet the situation may change in the next year. Rumors on Jose Cuervo’ listing began appearing four years after the world's largest producer of premium alcoholic beverages, British company Diageo, refused to buy Jose Cuervo.
Mexican company is an independent player in the industry. This is fairly rare for alcoholic beverages market as traditional leaders there are large conglomerates. Jose Cuervo specializes in production of tequila and liqueurs from natural agave since the 1700s., when the Mexican territory was controlled by government of Spain. In addition to tequila, the company produces rum under the brand Kraken and Bushmills whiskey.
The company was going to use placement on the stock exchange to boost growth either organically or through acquisitions. Jose Cuervo’s share in the US tequila market is 27.4%. In Mexico, the figure reaches 32.6%, according to the company. Sales in the first half of the year increased by a third to 12.2 billion pesos ($ 588 million), net income doubled to 7.2 billion pesos.
Alcohol consumption in the world in 2015 decreased for the first time in 15 years, yet the US has become a notable exception to the overall picture, according to Euromonitor International’s study.
Global consumption of alcoholic beverages in the past year decreased by 0.7% to 248 billion liters. The most significant reduction was observed in Ukraine - 17%. In China, the largest spirits markets in the world, the decline was 3.5%.
Meanwhile, alcohol consumption in the US rose to 30.6 billion liters to 29.8 billion liters a year earlier. According to Euromonitor analysts, this is partly due to improved economic conditions, strengthening of the labor market, and partly - continuing spread of crafting beer.
Modern consumers are moving from "simple" alcoholic drinks to more "complex" and expensive. Thus, sale of vodka in the past year decreased from 3.3 billion to 3.2 billion liters, rum - from 1.38 billion to 1.36 billion liters, while consumption of tequila and mescal increased from 263 million to 275 million liters, cognac - from 99 million to 104 million liters, and wine - from 27.4 billion to 27.9 billion liters.
source: ft.com