Maxxium Travel Retail to cease operating
Maxxium Travel Retail will cease operating from 1 April 2015 when drinks firms Edrington and Beam Suntory terminate their joint venture to create their own travel retail businesses.
Both Edrington and Beam Suntory are to terminate their joint venture with Maxxium Travel Retail in order to “better integrate” their European operations and manage global relationships more effectively.
“We would like to thank Maxxium Travel Retail for the outstanding results our brands have achieved under their stewardship,” said Scott McCroskie, group commercial director for Edrington.
“With passenger numbers and spending forecast to increase by double digits, the travel retail sector presents an outstanding opportunity to grow our premium brands and we look forward to increasing the focus on our premium portfolio in this important channel.”
Several Beam Suntory brands, including its Morrison Bowmore single malt Scotch whiskies and Japanese whiskies, will join the Maxxium portfolio in domestic markets such as Spain, Russia and the UK.
In addition, Edrington will distribute the Morrison Bowmore single malt whiskies and Japanese whiskies in the Nordics.
“I would also like to thank Maxxium for their unstinting efforts to build our brands to leading positions in the important travel retail sector,” said Albert Baladi, president of Europe/Middle East/Africa (EMEA) for Beam Suntory.
“The newly expanded Beam Suntory premium ranges creates the right moment to focus on our own portfolio in the travel retail channel.
“We look forward to driving out performance in this channel and across Maxxium’s joint venture markets.”