29th Apr 2014 11:30
LONDON (Alliance News) - London-based drinks company Blavod Wines & Spirits PLC Tuesday said that it has changed its name to Distil PLC.
The drinks company first listed on AIM back in 2004, after it merged with Extreme Spirits to create Blavod Extreme Spirits. Financial difficulties meant that relationship ended in divorce three years later, and the strategy of the resulting company, Blavod Wines & Spirits, was initially to market and distribute third-party brands, including brands Mickey Finn Schnapps and Fernet Branca.
Over the last two years, Blavod has taken important steps to re-shape the business and is now focused on developing a growing portfolio of its own brands, including Blavod Vodka, Blackwood's Gin and Vodka, RedLeg Spiced Rum, Diva Vodka and Jago's Vanilla Cream Liqueur. It has also reduced its third-party brand portfolio significantly, having ceased distribution deals with with brands like Bruichladdich Islay Malt Whiskey.
Blavod, which has now changed its name to Distil, said Tuesday that its new company name better represents the nature of the business.
"Distil better represents the nature of the business which is now predominantly a distilled spirits businessand also reflects the fact that the company is now entirely focused on designing and marketing a portfolio of its own brands," it said in a statement.
Shares in Blavod Wines & Spirits were up 8.68% at 1.44 pence per share Tuesday.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Distil