Intercontinental Distillers Limited (IDL), a leading spirits company and makers of Chelsea Dry Gin and Veleta Fruit Juice among others held its annual distributor’s award for the year ending October 2017.
The award which took place in Abeokuta, Ogun State is designed to reward distributors of the company’s products who excelled within the course of the financial year. The event saw Mrs. Yemisi Adewusi, Managing Director, YTT Distribution Limited and wife of popular film maker Gbenga Adewusi emerge the company’s overall best distributor. Emma Ogbata & Sons came in the second place, while Ogbohu Enterprises took the third place position.
Speaking at the event, IDL’s Managing Director, Chief Patrick Anegbe highlighted some of the challenges the company faced over the course of the financial year. He said that the firm faced difficulties in the 2016 business year, lamenting the challenges with accessing foreign exchange to meet import requirements. He added that it led to scarcity of vital raw materials including ethanol, an important component used in the distillery industry.
He further said that the FX challenges hindered the company’s performance in the 2016 financial year and carried over into early parts of 2017.
Anegbe, who was in June elected the President of the Association of Food, Beverage and Tobacco Employers (AFBTE), the umbrella organization for the beverage industry, said that the high cost of imported raw materials caused by naira devaluation led to price increases earlier in the year. He lauded the recent efforts of the government to stabilize the naira, noting that it has helped the firm revise its prices downward. He implored the government to sustain the ongoing efforts on stabilizing the naira and provide improved access to foreign exchange.
IDL used the platform to reintroduce its repackaged Bull London Dry Gin and Derok Chocolate Flavoured Liqueur.
Mr. Mobolaji Alalade, Head of Marketing, said those brands will bring excitement and inspiration to consumers.
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