The Drinks Business
14 December 2020 By Arabella Mileham
Fine wine merchant Berry Bros & Rudd has toasted its best year in a decade, with group sales and operating profits hitting its highest point since 2010, according to accounts filed at Companies House, following a restructuring of the core business under its then executive chairman Lizzy Rudd.
In the year to 31 March 2020, underlying group sales rose £220.45m (before the accounting adjustment for en primeur sales), compared to £219m in 2019, while underlying group operating profit (excluding en primeur adjustment) grew a whopping 214% to £5.238m, up from £1.667m the previous year.
“However, with a revaluation loss of £3.3m on BBR’s UK property portfolio primarily due to the impact of covid-19 on year end valuations, the company recorded an overall loss for the financial year of £593,000, ”
Freixenet-Copestick snaps up Jascots
14 December 2020 By Arabella Mileham
Freixenet Copestick has purchased Jascots Wine Merchants Ltd from the administrators, it announced this morning, with all current Jascots employees set to transfer to the new business.
Freixenet Copstick is part of international sparkling wine group Henkell Freixnet
The new business, which will trade as Jascots Wine Limited will continue to trade from its North London base, and remain focussed on finding and supporting small sustainable growers around the world, the announcement said.
Freixenet Copestick’s managing director Damian Clarke said Jascots was a well-respected wine supplier which has established itself as a supplier of choice to some of the best restaurants, hotels and caterers in London and beyond through a “superb” portfolio of exclusive wines, exceptional service and leadership in sustainability.