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We're bringing the production of Red Stripe back to Jamaica

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Diageo has marketed Red Stripe as a “Jamaican lager-style” beer even though the brew has been made in the U.S. for the past few years — at least the version sold to U.S. consumers. But Heineken, which takes control of Red Stripe starting on March 1, is planning for the repatriation of Red Stripe back to the island nation.

“Heineken is the leader in upscale beer and cider because our products are rooted in traditions that translate to exceptional taste,” Ronald den Elzen, President-CEO of Heineken USA said in a statement. “We love the Jamaican culture and want to reinvigorate the brand and the iconic stubby bottle by bringing the production of Red Stripe back to Jamaica where it came to life nearly 90 years ago.”

red stripe bottle

Heineken in October announced an acquisition of Diageo’s 57.87% stake in Desnoes & Geddes Limited, the Jamaican maker of the Red Stripe and Dragon brands. Diageo in 2011 said it was moving Red Stripe production to the states in order to “enable greater investment in the brand in the U.S.” But the move provided an opening for a San Diego law firm, which in August filed a suit in federal court against Diageo alleging deceptive practices. Anheuser-Busch InBev recently settled a similar lawsuit involving Beck’s beer in which plaintiffs alleged the brewer falsely marketed the U.S.-made beer as a German import.

Source ADAGE
http://adage.com/article/cmo-strategy/lowdown-wearable-tech-dogs-red-stripe-repatriates/302714/?utm_source=cmo_strategy&utm_medium=newsletter&utm_campaign=adage&ttl=1456341548

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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