Page 54 - IAADFS 2022 hi-res

INSIDER

WEBB Banks flourishes five years after successful merger

Five years after the merger of spirits
distributor WEBB and wine specialist
Banks created a wines and spirits
powerhouse in the region, CEO Andy
Consuegra tells TMI that the combined
WEBB Banks has been an undeniable
success.
“The merger has allowed us to go to
another level. Five years since we merged,
we are now five times bigger than we were
at the time of the merger,” says Consuegra.
The merger demonstrated its value
particularly well during the COVID
pandemic, when Consuegra says the
company’s growth was driven by its
experienced team and strong portfolio of
wines and spirits.
“Overall as a business, including
both domestic and travel retail, we grew
organically in 2021 versus 2019 by 23%.
We had a very good year. Total growth was
even higher, but that includes some new
business,” he says.
“We have the experience and Teremana Tequila sold more than 600,000 nine-liter cases in 2021. The fast-
knowledge to work in a crisis. We had growing tequila was founded by Dwayne “The Rock” Johnson in March 2020.
a plan. We didn’t just react. We were
prepared.”
islands as well. of Teremana and Casa Noble, we are very
Open Caribbean markets “Our team, along with our distributors, strong in the tequila side.
WEBB Banks also benefited because made a shift from that on-trade focus to “Skrewball peanut butter whiskey hit
the markets that were open did “extremely an off-trade focus. We also catered more two million cases last year. That’s a brand
well,” says Consuegra. to domestic consumption. So we were that is in all the bars. It has definitely been
“The USVI was off the charts. It had not as reliant on tourism, which we think helping drive our growth.”
one of the best tourism years ever last year. long-term is only going to strengthen our
Puerto Rico continues to do great. We had brands,” says WEBB Banks COO Jose The WEBB Banks team
a very good 2020 there and had an even Castelvi. While many companies in the travel
better 2021. The Dominican Republic did retail industry downsized during the
well,” he says. The power of the portfolio pandemic, WEBB Banks went in the other
“We grew despite some markets still WEBB Banks’ growth in 2021 was direction and added new members to its
being closed. Travel retail came back in driven by its core brands as well new high team throughout the region.
the second half of the year. It started very potential additions to its portfolio. “We know when a crisis hits there are
slowly in 2021, but we had a pretty decent “Tito’s, 19 Crimes, Jagermeister, certain things you do. The first thing you do
second half of 2021.” Disaronno, Meiomi: the core brands are is get your costs under control. We did that
In another plus, many Caribbean still doing really well,” says Consuegra. early on in 2020. But as 2021 came in and
markets had a strong offseason last “And we added some great new we thought it was going to be a good year,
summer, says Consuegra. brands as well. Teremana tequila and that’s when we leaned in. We hired people.
“It was probably the best summer that Skrewball are two brands that helped We added more people in the markets. We
we have seen in terms of numbers. What deliver last year’s numbers, but we have raised our inventory levels and leveraged
was open was off the charts. Turks and high expectations for this year.” our relationships we developed during the
Caicos, the Bahamas, the Virgin Islands all Last year was the first full year bleak days,” says Consuegra.
had great summers in what is normally a for Teremana and in the U.S. it reached “The last driver of growth this past
slow period.” 600,000 9 liter cases in one year. year and why we are optimistic for this
WEBB Banks also made a concerted “Tequilas as a category are doing very year is our team. Jose Castelvi coming
effort in the Caribbean to not rely solely on well in duty free, domestic markets, and on as COO has been a great addition.
the tourists, but to cater to the locals on the cruise lines. To have that one-two punch He has brought a lot of stability to the

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