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UK’s Kensington Distillers acquires 1960 Rootz spirits brand from AB InBev

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NIGERIA – Kensington Distillers and Vintners Limited (KDV), the London-based beverage producer has acquired the 1960 Rootz flavored spirits brand from AB InBev’s Monument Distillers Nigeria.

The acquisition includes the state-of-the-art manufacturing plant used to produce 1960 Rootz, which according to KDV will soon be moved from AB InBev’s Port Harcourt production facility to Lagos where Kensington’s offices are based.

KDV which produces international brands Bannerman’s Finest Scotch Whiskey, Grace du Roi Fine Wine and Mazzatti Italian Beer, Kensington Distillers & Vintners said the transaction will also see the business incorporated as Monument Distillers.

However, Ajay Malhotra, Managing director at Monument Distillers Nigeria Limited, noted that the 1960 Rootz brand will remain unchanged.

“AB InBev built an extremely successful brand in 1960 Rootz, and we believe it has the potential to lead this uniquely Nigerian flavoured spirits category which grew by 21% from 2016 to 2017.

We won’t be changing anything – the brand’s much- loved taste will remain the sam,” he said.

Ajay said that the firm will continue to build on the success of the brand: “We are delighted to be given the opportunity to continue to grow 1960 Rootz and for us to use our newly-formed Monument Distillers business to accelerate the growth of our international brands”

Kensington Distillers said that the new subsidiary, Monument Distillers will be launching a number of exciting new international brands in Nigeria soon under the guidance of respected board members, reports Beverage Industry News.

Notably, the board members include liquor industry veteran, Mark Bowman, who led SABMiller Africa across 18 African markets directly and a further 21 in partnership with the Castel Group.

Rowan Leibbrandt, who began his liquor industry career working across multiple European markets in a variety of commercial and marketing roles for William Grant & Sons and liquor giants, Pernod-Ricard is also on board.

Rowan pioneered the launch of KDV as well as contributed to the rapid growth of the South African liquor distributor, Truman & Orange.

More recently, Truman & Orange partnered with Kensington Distillers & Vinters to launch their range of privately-owned drinks, including Bannerman’s Scotch Whisky; Mazzatti Beers and Grace du Roi Sparkling Wines, among others in SA.

Other include Michael Ajukwu,a Monumental Distiller Board member and Olayemi Cardoso who serves as Chairman of Citibank Nigeria and Chairman of African Venture Philanthropy Alliance (AVPA).

24 Hours Across Africa

Senegal to terminate deal with Mauritius over hiked tax

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Senegal has threaten to part ways with Mauritius over hike taxation, also stated they will pull out from the deal.

Senegal could leave the double taxation treaty signed with Mauritius in 2002. According to President Macky Sall, Senegal has lost more than $250 million in tax revenue to its partner in 17 years.

The Dakar government believes that Mauritius, already on the European Union’s grey list, is home to many companies investing in Senegal in mining resources such as Zircon or gold.

A way for these companies to bypass tax revenues by taking advantage of the treaty between the two countries.

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24 Hours Across Africa

U.S-China trade war nears productive.

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Source: Reuters- U.S. President Donald Trump on Friday said he had not promised Chinese President Xi Jinping a reprieve from escalating tariffs in a trade war that is casting a shadow on global growth, but felt their talks planned for the next day would be productive.

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Beijing, for its part, said it hoped Washington would meet halfway to settle a bitter trade feud that, along with signs of a global slowdown, has loomed over a two-day Group of 20 summit that began in Japan’s western city of Osaka.

China and the United States are locked in a trade dispute and expectations have dimmed that Trump and Xi can ease tension when they meet on the sidelines of the meeting.

“At a minimum it will be productive. We’ll see what happens and what comes out of it,” Trump told reporters after a series of meetings with leaders where he made clear that his priority was two-way trade deals to boost the U.S. economy.

Asked, however, if he had promised Xi a six-month reprieve on imposing new tariffs on a $300 billion list of nearly all remaining Chinese imports, Trump said “No”.

Trump has imposed tariffs on $250 billion of Chinese imports and is threatening to extend those to another $300 billion of goods, effectively everything China exports to the United States. China has retaliated with tariffs on U.S. imports.


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