USA & Barbados: Banks Breweries to enter US market
Barbados largest beverage supplying group is seeking access to the US market with some of its brewed products comes early next year, Barbados Advocate communicated August 15.
This announcement came from CEO and managing director of the BHL Group, Richard Cozier, at a recent press briefing. Founded in 1961, Banks Breweries, Ltd. operates as a subsidiary of the BHL Group, a Barbados holding company.
Richard Cozier explained that the group has joined forces with a company in the US in an effort to supply BHL brewed products to specific areas in the US market.
He noted that the US brings a tremendous amount of opportunities for the Group’s products and they are seeking to take advantage of these opportunities. They were hoping to have the product launch on the Labour Day weekend this year, but this is not possible.
The CEO disclosed that they had hoped to get the Banks brand into the market this year, but because of legal specifications this cannot be achieved.
He explained that the preferred host brewer for the US market has suggested early spring next year as the prime time, as the winter months in the US have been described as off peak. Describing the arrangement, which would establish the Banks Brand in this major market, Cozier explained that a licensed arrangement would more than likely facilitate the brewing of the product for the US market.
Success in the US market with the Group’s premier brewed beverage is a major step in the company’s development.
Cozier pointed out that the BHL group would maintain oversight of the arrangement for the US market. He also indicated that the company would be heavily involved in the marketing of the product for that market. It was explained that marketing is an extremely important area for any product to a new market, therefore, as BHL seeks to penetrate the US market, the process must be handled carefully. According to Cozier, a date for early next spring has now been set for the products to enter the market with some of its brewed products. He explained that the main target in the US would be the eastern seaboard and the Caribbean Diaspora, which seem well suited to the flavours of the BHL brewed products.
It was noted that such a step towards the US market signifies how important expanding is to the company. It also suggests the commitment of the company to producing world class brands and the establishing of high standards and quality for each market it penetrates.
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