excluding SPC & Grinders et el, the beverage business is when deconstructed, clear in purpose. Ubiquitous distribution (availability) with packages that are affordable (mostly to the core consumer and those that are less frequent consumers...notice I didn't write cheapest) via pack types that are applicable to the consumption occasion (e.g. with food could be post mix for example) and which are acceptable (legally, morally etc) to the market place. Achieving this takes co-ordinated effort, it takes managerial skill to plan and align the consumer insight with the customer benefit generating agreement (most customers generally look for linkages to gross profit funnily enough) ......which then supports / allows the field team to execute with single purpose, efficiency and in quick time. When you remove or destock the sales force, allow very intelligent and effective operators to walk out the door (by themselves, with a payout or otherwise) and / or fail to focus on the core drivers.....it matters not the brand strength. I've seen 3rd players focus on these and become strong, we can see an example of a leader falter when focus is distracted. CCL can return to strength, it does not "control" brand, it controls manufacture and execution. Let's see it become again engagingly ruthless in those competencies.
CCL Price at posting:
$9.00 Sentiment: Hold Disclosure: Held
