Company type | Public |
---|---|
BSE: 532432 NSE: UNITDSPR | |
Industry | Drink industry |
Predecessor | McDowell and Company |
Founded | 1826 Fort St. George, Madras, Madras Presidency, British India |
Founder | Angus McDowell |
Headquarters | , India |
Area served | Worldwide |
Key people | Hina Nagarajan (MD & CEO) |
Products | Alcoholic beverages: spirits, beer and wine |
Revenue | ₹11,321 crore (US$1.4 billion) (FY24) [1] |
₹2,001 crore (US$240 million) (FY24) [1] | |
₹1,408 crore (US$170 million) (FY24) [1] | |
Total assets | ₹9,762 crore (US$1.2 billion) (2023) [2] |
Total equity | ₹6,000 crore (US$720 million) (2023) [2] |
Number of employees | 3,200 (2022) [2] |
Parent | Diageo (54.8%) [3] |
Website | www |
United Spirits Limited, abbreviated to USL, is an Indian alcoholic beverages company, and the world's second-largest spirits company by volume. [4] It is a subsidiary of Diageo, and headquartered at UB Tower in Bangalore, Karnataka. USL exports its products to over 37 countries. [3]
According to the official website of the company, as of March 2013, USL has more than 140 liquor brands, of which 15 brands each sell more than one million cases annually while 3 brands each sell more than 10 million cases annually. [5]
The company originated as a trading company called McDowell and Company (also known as McDowell & Co, McDowell or McDowell's), founded in India in 1826 by Angus McDowell, a Scot. [6] He set up a warehouse near Fort St. George, Madras (now Chennai). [7] The company imported liquor, tobacco products, and other consumer goods into India to serve the needs of British people stationed there. [7] McDowell & Company Limited was incorporated as a company in 1898, with an initial capital of ₹8 lakh (equivalent to ₹31 croreorUS$3.8 million in 2023) as 4,000 preferred shares and 4,000 common shares of ₹100 (equivalent to ₹39,000orUS$470 in 2023) each. The company's principal shareholders were A.M. Hooper, G.D. Coleman, and G.A. Ruppell. [7]
The Vittal Mallya-run United Breweries Group bought McDowell and Company in 1951. [6] In 1959, Mallya established the company's first distillery at Cherthala, Kerala on the banks of the Vembanad lake. McDowell's began bottling Bisquit Brandy and Dorville French Brandy, from imported concentrates, becoming the first company to manufacture Indian Made Foreign Liquor (IMFL). The company opened India's first distillation plant to manufacture extra-neutral alcohol (ENA) at Cherthala in 1961. The plant began bottling products for Herbertsons Limited of the Anglo Thai Group that same year. The company launched Golden Grape Brandy, its first original product, in 1962. The company launched McDowell's No.1 Brandy in 1963–64 when their contract with Herbertsons expired. In the early 1960s, the company acquired Carew & Co and Phipson & Co, manufacturers of rum, gin, and other hard liquors in 1963–64. [7]
The company launched McDowell's No.1 whisky in 1968, and commissioned new distilleries in Hyderabad, Ponda (Goa), and Hathidah (Bihar) over the next few years. In the late 1970s, distilleries were acquired in Udaipur, Alwar, Mirganj, and Serampore, and a plant was built in Pondicherry. The company bought out Herbertsons in 1973. Mallya's son, Vijay Mallya, took over as director of McDowell's the same year and assumed chairmanship of UB Group and McDowell's after Vittal Mallya died in 1983. McDowell's moved its headquarters from Madras to Bangalore in 1987. The company established a technical center for product and process development research in Bangalore in 1989. McDowell's No.1 Rum was launched in 1990. McDowell's acquired the spirits business and manufacturing facility of Forbes Campbell & Company Limited. McDowell's formed United Distillers India Limited, India's first joint venture in the alcoholic beverages industry, with United Distillers of the United Kingdom in 1991–92. McDowell's Signature whisky was launched in 1994. In 1995, Carew Phipson Limited, Consolidated Distilleries Ltd, and several other companies were merged into McDowell's. [7] The company was incorporated as McDowell Spirits Ltd in 1999. The name was changed to McDowell & Company Ltd on 1 April 2000. McDowell Alcobev became a wholly owned subsidiary of McDowell & Company in 2002. In the same year, the company acquired Phipson Distillery, McDowell International Brands Ltd, and most of Triumph Distilleries & Vinters Pvt Ltd. McDowell launched Derby Special Whisky in 2003 and Old Cask rum in 2004. [8]
On 21 March 2005, McDowell & Company entered into an agreement with Jumbo World Holdings Limited (JWHL) in Dubai to acquire Shaw Wallace. [9] [10] The board of Shaw Wallace approved the merger of the company with USL and fixed the appointed date of the merger as 1 April 2008 subject to approvals. [11] In 2006, McDowell & Co Limited, Herbertsons Limited, Triumph Distillers and Vintners Private Limited, Baramati Grape Industries India Limited, Shaw Wallace Distilleries Limited and four other companies are merged to form United Spirits Limited. Bouvet Ladubay, a subsidiary of France-based Taittinger was acquired the same year. [7]
The UB Group purchased Whyte & Mackay in May 2007 for £595 million. [12] USL also acquired Liquidity Inc., makers of Pinky Vodka, in 2007. USL launched Black Dog 18 YO and Four Seasons Barrique Reserve in 2009–10, and McDowell's No 1 Platinum, 100% grain-based whisky, in 2011. [7]
On 27 May 2013, Diageo acquired a 10% stake in United Spirits at a cost of ₹20,927,196,000 (US$250 million). It also separately acquired an additional 58,668 shares for ₹ 85,778,082. [13] On 4 July 2013, Diageo bought an additional 14.98% of the company for ₹31.35 billion (US$380 million). Diageo acquired an additional 21.77 million shares at a cost of ₹1,440 (US$17) per share in an off-market deal from United Spirits' promoters, raising its holdings to 25.02 percent of the company. [14] [15] Following that purchase, Diageo held 36.3 million shares in USL, acquired at a cost of ₹52,358.5 million (US$630 million), [16] making it the largest shareholder. [17] Under pressure from Diageo, some substantial changes to the management structure of the firm began to take place in 2013. [18]
In 2014, Diageo's shareholdings rose to 54.8% of USL. [3]
In early 2014, Whyte & Mackay, which had been purchased by UB Group in 2007, was sold to Philippines-based Emperador for £430 million. [19]
On 5 November 2017, the Paradise Papers, a set of confidential electronic documents relating to offshore investment, revealed that United Spirits with three other subsidiaries based in the UK were allegedly involved with diverting funds amounting to $1.5 billion. [20]
The USL technical centre was opened in 1989 in Bangalore, and is recognised by the Department of Scientific & Industrial Research (DSIR) as an in-house Research & Development laboratory. [21]
USL manufactures Indian whisky, Scotch whisky, brandy, rum, vodka, gin and wine. [22]
|
|
|
USL owns several distilleries throughout India, and also owns one unit in Nepal. Besides these, USL also has several contract and associate distilleries in India, and one in Nepal. [24]
|
|
Diageo plc is a British multinational alcoholic beverage company, with its headquarters in London, England. It operates from 132 sites around the world. It is a major distributor of Scotch whisky and other spirits. Distilleries owned by Diageo produce 40 percent of all Scotch whisky with over 24 brands, such as Johnnie Walker, J&B and Old Parr.
United Breweries Holdings Limited (UBHL), also called UB Group, is the Indian subsidiary of Heineken N.V.. It is headquartered in UB City, Bangalore, Karnataka. Its core business includes beverages and investments in various sectors. The company markets beer under the Kingfisher brand, and owns various other brands of alcoholic beverages. United Breweries is India's largest producer of beer.
Vittal Mallya was an Indian entrepreneur, best known as the former chair of the India-based United Breweries Group. Mallya is the father of an Indian businessman Vijay Mallya.
Shaw Wallace & Company Limited, abbreviated to SWC, is an Indian liquor manufacturer headquartered in the Wallace House in Kolkata, West Bengal. It was established in 1886 by Robert Gordon Shaw and Charles William Wallace. It was involved in the production and sales of Indian Made Foreign Liquor (IMFL). The two biggest brands of SWC were Royal Challenge whisky and Director's Special whisky.
Whyte & MackayLtd is a company producing alcoholic beverages based in Glasgow, Scotland. The company is a subsidiary of Alliance Global Group, one of the largest alcoholic-beverage companies in Southeast Asia.
White Mischief is a brand of Indian vodka and brandy manufactured by United Spirits Ltd (USL), a subsidiary of Diageo. United Spirits Ltd, the spirits division of Diageo, claims a market share of 46%, making it the largest selling vodka in India.
As of 2006 most distilled spirits labelled as "whisky" in India were a form of Indian-made foreign liquor, commonly blends based on neutral spirits that are distilled from fermented molasses with only a small portion consisting of traditional malt whisky, usually about 10 to 12 percent. Outside India, such a drink would more likely be labelled a rum. According to the Scotch Whisky Association's 2013 annual report, unlike in the European Union (EU), "there is no compulsory definition of whisky in India, and the Indian voluntary standard does not require whisky to be distilled from cereals or to be matured. Very little Indian 'whisky' qualifies as whisky in the EU owing to the use of molasses or neutral alcohol, limited maturation and the use of flavourings. Such spirits are, of course, considerably cheaper to produce than genuine whisky." Such molasses-based blends made up 90 percent of the spirits consumed as "whisky" in India in 2004, although whisky wholly distilled from malt and other grains, was also manufactured and sold. By 2004 shortages of wheat had been overcome and India was one of the largest producers. Amrut, the first single malt whisky produced in India, was launched in Glasgow, Scotland in 2004. After expanding in Europe it was launched in India in 2010.
Bagpiper is a brand of Indian whisky, manufactured by United Spirits Ltd (USL), a subsidiary of Diageo. It was launched in October 1976. Bagpiper is sold in a square bottle with black and gold packaging design. The company describes the whisky's flavour as "a light malty aroma and a hint of a smooth woody character, owing to the use of malt spirits specifically matured in pre-identified American oak casks". It is similar to a blended whisky flavored with pot still malt whisky, but the neutral spirits used as base are distilled from molasses instead of grain.
Sazerac Company, Inc. is a privately held American alcoholic beverage company headquartered in Metairie in the metropolitan area of New Orleans, Louisiana, but with its principal office in Louisville, Kentucky. The company is owned by billionaire William Goldring and his family. As of 2017, it operated nine distilleries, had 2,000 employees, and operated in 112 countries. It is one of the two largest spirits companies in the United States, with annual revenue of about $1 billion made from selling about 300 beverage brands.
Royal Stag, also known as Seagram's Royal Stag, is an Indian whisky launched in 1995. It is available in many countries across the world in various pack sizes. It is Pernod Ricard's best selling brand by volume. It is a blend of grain spirits and imported Scotch malts. It is commonly available in 1 L, 750 mL, 375 mL and 180 mL bottles and also available in 90 mL and 60 mL bottles. The brand is named after a species of deer famous for its antlers, that is also featured in its logo. It is produced in several company-owned as well as bottler-owned distilleries. It was the first whisky brand launched in India that did not use any artificial flavours.
Blenders Pride launched in 1995. It is a Rum brand of Indian whisky, owned by Pernod Ricard. It is a blend of Indian grain spirits and imported Scotch malt.
Antiquity is a brand of Indian whisky, manufactured by United Spirits Ltd (USL), a subsidiary of Diageo. It was launched in 1992 and is available in two variants – Antiquity Blue and Antiquity Rare.
Signature, also known as McDowell's Signature, is a brand of Indian whisky, manufactured by United Spirits Ltd (USL), a subsidiary of Diageo. It was launched in 1994. Signature is a blend of imported Scotch whisky and locally produced products. Signature is sold in octagonal bottles which were designed by London-based design firm Claessens International, who also designed the packaging of the bottle. It is available in two variants – Signature Rare Aged and Signature Premier Grain.
Royal Challenge, commonly referred to by the abbreviation RC, is a brand of Indian whisky, manufactured by United Spirits Ltd (USL), a subsidiary of Diageo. It was launched in the early 1980s. According to Binod K. Maitin, a United Breweries technician who oversees all the liquor blends for the company, Royal Challenge is a grain flavored whisky, blended with Scotch malts and Indian malts. In an article for The Wall Street Journal, reporter Eric Felton states that, "About 12% of the blend comes from real malt whiskies: some of it made in India, some actual Scotch. The rest of the mix is a neutral spirit distilled from molasses. That means that, strictly speaking, Royal Challenge, like most Indian "whisky", is actually a rum flavored to pass as whisky." The manufacturer has refused to state the percentage of Scotch whisky used in the blend. In the United States, Royal Challenge is referred to as "spirit whisky". Besides India, Royal Challenge is sold in several other countries including the Middle East and the United States.
Black Dog is a brand of blended Scotch whisky produced by the Indian beverage company United Spirits Limited (USL), a subsidiary of Diageo.
Director's Special, commonly referred to by its abbreviation DSP, is a brand of Indian whisky, manufactured by United Spirits Ltd (USL). It is molasses based. Shaw Wallace won a legal battle in US courts against the Scotch Whisky Association (SWA) to sell the product as "whisky".
Radico Khaitan Ltd. (RKL), formerly Rampur Distillery & Chemical Company Ltd., is an Indian company that manufactures industrial alcohol, Indian Made Foreign Liquor (IMFL), country liquor and fertilizers. It is the fourth largest Indian liquor company. Radico brands are sold in more than 85 countries, including USA, Canada, South America, Africa, Europe, South East Asia, Australia, New Zealand and the Middle East.
McDowell's No.1 is an Indian brand of spirits manufactured by United Spirits Limited (USL), a subsidiary of Diageo. It is USL's flagship brand and the largest umbrella spirits brand in the world, comprising three categories – whisky, brandy and rum. The brand also has bottled water and soda. The brand began with the launch of McDowell's No.1 Brandy in 1963–64. The brand's slogan is No1 Yaari Ka No1 Spirit.
Officer's Choice, commonly known as OC, is an Indian whisky brand which is owned by Allied Blenders & Distillers (ABD), formerly BDA. It is considered to be one of the largest spirit brands in the world. In 2015 Officer's Choice overtook Smirnoff vodka to become the world's largest selling spirit brand. In calendar year 2014, the brand sold 28.4 million cases, higher than any other spirit brand in the world. Compared to the other Indian whiskies which are mainly made from molasses, OC is made from grain.
Allied Blenders & Distillers is an Indian-made foreign liquor company, headquartered in Mumbai, India. It is a major distributor of whiskey, rum, vodka, brandy and other spirits, and exports to 22 countries around the world.
{{cite journal}}
: Cite journal requires |journal=
(help)