This company is a real cash machine but low growth. This is mainly a marketing company for spirits. They are bringing on their own wine now. The company is controlled by Pernod Ricard in Europe. There has been ongoing speculation that the company would take itself private but that hasn’t happened and is not likely to. Every few years they pay a huge dividend because Pernod Ricard has a lot of debt. He much prefers the growth prospects of other companies that sell and market their own products. They’ve tried some initiatives to grow, such as selling product in the US (which was a failure). The dividend is very safe but it is unlikely to appreciate dramatically.

Good company. Pretty safe with it. Spirits companies are great. Strong data with Corbys. ROIC 18% with 13% in recent years. Valuation reasonable. Good dividend at 3.8%.

Doesn't think you're going to get much in the way of capital appreciation on this. They pay $.84. Their year end is June 30. You are not going to get much in the way of capital appreciation, it's just the distributions that you get. His model price is $24.47, 14% higher than what it closed at yesterday. He sees so much value elsewhere that it would be hard for him to stick with this.

Hard liquor and some wines.  Very good brands.  He has looked at it and likes it at times but they are too highly valued at times. It one shareholder has too much so it is not liquid enough for him.  As cannabis becomes more main stream, they may want to invest in it in some way.

It has been a story where he looked at it a year or so ago.  It is a bit expensive on a multiple basis but someone will probably come along and take it out in the future.  He would hold it if you own it.  They try to make acquisitions of smaller brands from time to time.  It is pretty sleepy.

This has its own little niche and a much smaller distribution than some of the larger names. The spirits business had struggles last year. There is nothing wrong with this one.