Friday, June 14, 2024

Independent drinks business, Global Brands, reports record financial year

Chesterfield-based independent drinks business, Global Brands, has broken records for their financial year ending 30 September 2022.

Global Brands, owners of a portfolio including Franklin & Sons, Hooch, VK, and more has reported double-digit turnover growth for financial year 2022, driven by record international growth, successful NPD launches including Lustre liqueurs, and canned cocktail and RTD sales.

The company has reported a 26.6% increase in turnover, rising to £84.4 million, versus sales of £66.6 million in the 20/21 financial year.

The company is now the biggest supplier of branded canned cocktails to the UK off trade, and the biggest supplier of ready to drink products into the UK on premises across their portfolio. The company’s portfolio of drinks brands includes VK, Hooch, Franklin & Sons, All Shook Up, Shake Baby Shake, Corky’s, Beviamo, Kick Energy, Lustre, and Amigos Tequila Beer.

Global Brands also reported a 50% increase in international business. Having launched Franklin & Sons in the USA in 2019, just as the pandemic struck, the international arm of the business is now seeing significant growth, reaching £5 million in turnover for the first time in the history of the business.

Profitability increased, with an operating of £6.9 million compared to £6.1 million in the previous financial year.

Steve Perez, founder and chairman at Global Brands, said: “Global Brands, the UK’s leading independent drinks business, has had another fantastic year. 21/22 has been our sixth successive year of growth, almost doubling our turnover in the last five years.

“We’ve recently purchased the trademarks for Hooch, Hooper’s, and Reef from Molson Coors, and have lots of exciting new products in the pipeline. We’re now the biggest supplier of branded canned cocktails in the UK off trade, and the biggest supplier of RTDs into the on trade.

“Franklin & Sons is now the second biggest premium tonic in the UK on trade, and we’ve seen fantastic growth for the brand in the UK and especially internationally, in markets in Asia, through Europe, and from our newly opened office in the USA.

“We’re unique in that we create everything in-house, from design, marketing, and NPD through to the distribution of our brands from here in Chesterfield and Clay Cross – areas where we’ve invested just under £3 million in the last year. From our base in Derbyshire, we employ almost 200 people, and our success is down to the fantastic teams that drive these brands forward.

“While economic conditions have been challenging in the six months since we’ve published our accounts, especially in regard to energy and raw material costs, we’re confident going forward that the company will continue its momentum in the next financial year.”

Global Brands has started financial year 22/23 in a strong position. Late last year saw the hard launch of premium tonics, sodas, and soft drinks brand Franklin & Sons into the USA, to further capitalise on international growth, while the company acquired the trademarks for Hooch, Hooper’s, and Reef from Molson Coors, investing in the brands with the security of owning the equity.

Alongside this, Global Brands has launched an all-new VK & SODA extension for their no.1 RTD for students eight years running, VK. The new range delivers on demand for zero sugar and lower calorie drinks, while retaining the flavourful and tasty essence of the original VK range, engaging with RTD consumers, and attracting the segment of consumers that opt for beverages with fewer calories than typical RTDs.

A £2 million expansion of the Global Brands Distribution Centre was also recently completed, increasing capacity from 30 million to 40 million products stored.

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