imoncello and its related brand extensions. Pallini Limoncello is a premium lemon liqueur, which is served iced cold, on the rocks or as an ingredient in various drinks, ranging from martinis to iced tea. It is also used in cooking, particularly for pastries and cakes. Pallini Limoncello is crafted from an authentic family recipe. It is made with Italy’s finest Sfusato Amalfitano lemons that are hand-selected for optimal freshness and flavor. There are two other flavor extensions of this Italian liqueur: Pallini Peachcello, made with white peaches, and Pallini Raspicello, made from a combination of raspberries and other berries. Tierras tequilas: Tequila Tierras Autenticas de Jalisco or Tierras is an organic, super-premium, USDA certified organic tequila and is available as blanco, reposado and añejo. The company is the exclusive U.S. importer and marketer of Tierras. Gozio Amaretto: The company is the exclusive U.S. distributor for Gozio amaretto, which is made from a secret recipe that combines selected fruits from four continents. Distribution The company must maintain its relationships with its distributors. Through its internal sales team, the company has established relationships for its brands with wholesale distributors in each state, and its products are sold in the U.S. by approximately 80 wholesale distributors, as well as by various state beverage alcohol control agencies Strategy The key elements of the company’s strategy are to focus on its more profitable brands and markets; grow organically; build consumer awareness; leverage its distribution network; and selectively add new brand extensions and brands to its portfolio. Customers Sales to one distributor, Southern Wine and Spirits of America, Inc. and related entities, accounted for approximately 31.4% of the company’s consolidated revenues for fiscal year ended March 31, 2016. Suppliers The company has two long-term supply agreements with Irish Distillers Limited, a subsidiary of Pernod Ricard, under which it has agreed to supply the company with the aged single malt and grain whiskeys used in its Knappogue Castle Whiskey and all of its Clontarf Irish whiskey products. The company’s bottling and services agreement with Terra would expire on June 30, 2016. The company has a supply agreement with Cargill Plc, a European producer of grain neutral spirits, to provide the company with the distilled alcohol used in its Boru vodka. Gaelic Heritage Corporation Limited, an affiliate of Terra Limited, has a contractual right to act as the supplier to the company of Celtic Honey. The company’s bottling and services agreement with Terra would expire on June 30, 2016. Seasonality The company’s industry is subject to seasonality with seasonal holiday buying generally generating peak retail sales in the fourth calendar quarter (its third fiscal quarter) (year ended March 31, 2016). Historically, this holiday demand typically resulted in slightly higher sales for the company in its third and/or fourth fiscal quarters. Government Regulation The company is subject to the jurisdiction of the Federal Alcohol Administration Act, the U.S. Customs Laws, Internal Revenue Code of 1986, and the Alcoholic Beverage Control Laws of all 50 states.
castle brands inc (ROX:NYSE Amex)
122 East 42nd Street
New York, NY 10168
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