Premium Tequilas Drive Cuervo Growth, Despite Agave Price Pressure

Dear Client: Grupo Cuervo "finished 2019 strong" with volumes up 7.5% and net sales up 9.2% globally, driven by strong depletion trends in the US and Canada as well as growth in super premium tequilas, according to chief Juan Domingo Beckmann. "Our performance continues to outpace the broader spirits industry," he said on this morning's earnings call. GLOBAL BRAND PERFORMANCE. Breaking down the portfolio, here's how the company's brands performed in the fiscal year: Jose Cuervo was up 9% in volumes and 11.5%