Diageo has received the necessary regulatory clearances for the £1.3 billion acquisition of Turkish spirits company Mey Icki. The British spirits major revealed its intention to acquire Mey Icki in February this year to strengthen its position in the Turkish spirits market.
According to the Beverage Information Group's recently released 2011 Liquor Handbook, total spirits consumption rose 1.9% in 2010 to 192.1 million 9-liter cases. This marks the 13th straight year spirits consumption has gained ground.
Spirits are picking up, so to speak, in the alcoholic beverage industry, though rising commodity prices may constrain margins, according to a new study by AlixPartners LLP, the global business-advisory firm.