Diageo buys Ryan Reynolds' Aviation American Gin | UK Market Update

Diageo has agreed to buy a gin brand co-owned by the Hollywood actor Ryan Reynolds in a deal worth up to $610m (£466m). The FTSE 100 company, which owns Smirnoff vodka and Johnnie Walker whisky, will buy Aviation American Gin and its parent company Davos Brands. Reynolds, the star of the Deadpool films, bought a stake in Aviation gin in February 2018 and will retain an interest in the business. Diageo said Aviation was the second largest brand in the super-premium gin segment in the US and one of the fastest growing brands in the category. Aviation’s sales increased by more than 100%in 2019 as demand for premium gin soared in North America.

In a bid to slash its plastic waste even further, Morrisons is entirely get rid of its Bag for Life, substituting it with a more environmentally friendly solution. The strong plastic carrier bag was launched to urge people to reuse the same bag again and again, with customers offered a replacement for free once the bag wore out. The major supermarket ditched 5p single use plastics bags in 2018, and the cost of a bag for life was increased from 20p to 30p last year. Morrisons is running a trial offering only paper bags. If the trial is successful, launching paper bags just across all its 494 stores would save 90 million plastic bags being used every year.

Ryanair has said it will cut capacity by 20% in September and October after "markedly reduced" bookings in recent periods. The airline said the drop was driven by "uncertainty over recent Covid case rates in some EU countries". It said cuts will mostly be in flight numbers as opposed to route closures. Ryanair said they will be "heavily focused" on countries where virus rates have led to the UK and Ireland re-imposing travel restrictions. The UK has re-imposed 14-day quarantines on travellers coming from countries including Spain, France and Sweden.

#UK #Ryanair #Morrisons #Kalkine


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is not authorised or regulated by the Financial Conduct Authority to provide regulated advice. The purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. The Content is guidance about the different types of investments that are available and sets out general principles to continue before making investment decisions. Kalkine Media is neither authorised nor qualified to provide regulated investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from an appropriately authorised and/or qualified financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.