wines and spirits for the discerning drinker

EM5 - Introduction to Aperitifs (public) Who we are and what we stand for as an importer

Fasel Shenstone is an importer dedicated to bringing authentic wines and spirits to the discerning American drinker; our core focus is apéritifs • We represent family-owned businesses who follow traditional production methods • We work exclusively with wineries and distilleries who control production from field to bottle • We seek out products that express and fuel the local culinary traditions of their regions • We work only with products that challenge their categories in terms of style and value

Our core objectives in the United States are to: Broaden the bar industry’s appreciation for vermouth and its importance to their programs Enable the professional and amateur bartender to elevate their cocktailing Help innovative venues put authentic apéritifs back on lists / menus in their own right Share with American consumers the value and delight of apéritif wines an liqueurs to enrich their drinking and eating experiences

2 FASEL SHENSTONE / Confidential What is an apéritif? • Apéritif comes from the Latin verb “aperire,” which means “to open” ‒ The concept was first recorded in Northern Greece in the 5th Century AD ‒ The first ever apéritifs were aromatized wines; herbs and spices were added to make wine tolerable and less sweet (because the early Greeks made shit wine!)

• From the 15th century onwards, the concept grew into new forms, creating the many sub-categories we know today: ‒ Sherry from Jerez, Spain ‒ Vermouth, Chinato and Bitter Liqueurs from Turin, Italy ‒ Quinquina & Gentians from southern Alps region in France ( Jura, Savoie) ‒ Sparkling Wine from valley regions of France (Limoux, Gaillac, Diois)

Means of Opening the Palate Dryness Bitterness Effervescence Mix of fortified wines and Mix of aromatized wines and aromatized Mix of wines and non-alcohol modifiers aromatized wines spirits • Sherry • Aperitivo / Bitter Liqueurs • Sparkling Wine • Chinato • Gentian Wines & Liqueurs • Tonic • Note: Pastis, Ouzo, calvados could • Vermouth also fit here • Americano • Quinquina

3 FASEL SHENSTONE / Confidential How can we categorize aperitifs?

Fortified Wines Fortified + Aromatized Wines Aromatized Liqueurs • Marsala (not all) • Americano • Amaro • Madeira • Chinato • Bitter / Aperitivo • Mistelle • Gentian Wines • Gentian • Pineau des Charentes • Quinquina • Port • Vermouth • Sherry

The Formula

Wine + Botanical Extract + Neutral Spirit + Sugar, Caramel and other ingredients that vary per product type

5 FASEL SHENSTONE / Confidential The most historic and prevalent European apéritif traditions French Vermouth: Light, floral, herbaceous Europe in 1820 (alpine herbs), sweet with fruity undertones French Quinquina: Soft, fruity, cocoa and vanilla, subtle layers of spice and bark / roots Castilian Vermouth: Delicate, savory and citrus, wine-focused Catalan Vermouth: Intense, nutty, extract- focused, dark fruit, bright acidity and tannic Torino Vermouth: Bitter and spice, root- focused but slightly floral, viscous, aromatic Aperitivo Liqueur: Aperitivo style: light, orange orange, hint of root plants

Bitter style: viscous, heavy gentian and angelica, bitter, tannic and sweet

Note – there are others like Gentian Liqueur (Aveze from Riom es Montagnes, France ) and Gentian 4 Wine (Bonal from Chambery) that are not covered here FASEL SHENSTONE / Confidential A look into the artisanal apéritif production process

6 FASEL SHENSTONE / Confidential What are all those botanicals in there, anyway?

9 FASEL SHENSTONE / Confidential Not all aperitifs are created equal; there is a wide gap in quality of ingredients and production techniques

• Significant differences exist between Industrial, Mass and Artisanal producers at each stage of production…

1 Base-Wine 2 Botanical Flavors 3 Extraction 4 Fortification Spirit 5 Ageing

Outsourced to Pre-fab flavor extracts or 1-2 weeks simple Industrial Cheap spirit, lower ABV to low cost low-cost concentrates / infusion, no None avoid taxes / reduce cost Production suppliers tinctures cooling or ageing

Local bulk Low cost, pre-processed 1-4 weeks simple Mass wines; low Decent spirit, typically botanicals, sometimes infusion, no None threshold for sourced in-country / locally Production extracts cooling or ageing quality

Wine suitable 6-12 weeks, Raw herbs and spices for bottling; warming and Resting in stainless Artisanal processed in house; control over cooling Quality spirit steel, or barrel prioritize freshness and Production vineyards / wine techniques, ageing (1-3 years) quality over cost production extract ageing

7 FASEL SHENSTONE / Confidential You get what you pay for and then some; paying for brands vs value

• Long and evolving finish, complex • Pronounced but integrated botanicals Artisanal • Good acidity to balance sweetness Production • Stands up to complex dishes/spirits • Deteriorates slowly (6-12 weeks)

• Decent, but depth and complexity lacking Mass • Taste does not penetrate back palate Production • Overpowered by other quality spirits • Noticeable deterioration in 1-2 weeks Quality of Product of Quality

• Thin palate, lacking concentration Industrial • Overly sweet or herbaceous Production • Cloying or vegetal • Not suitable for drinking by the glass • Rapid deterioration after opening Cost to Account / Consumer

8 FASEL SHENSTONE / Confidential The use of different wines, botanicals and production techniques across regions offers us many unique styles; there is no ultimate anything, just different tools This graphic represents the 4 elements of any vermouth’s flavor and style. Positioning in the center means the vermouth has a nearly symmetrical balance in flavor between all four elements. Positioning along the outside wall of any single quadrant means the vermouth is heavily dominated by that element. Positioning between two quadrants indicates a balance of those respective elements, but a weak presence of opposing elements.

Martini and Rossi - Dry Herbaceous Martini and Rossi Citrus-Forward - Rosso Bitter with strong presence Carpano Bianco Pronounced elements of of wild root plants (e.g. Carpano – lemon and orange peel, sassafras, rhubarb, gentian Punt e Mes Carpano Dry leading to notable acidity root, etc.) Martini Riserva to liven the palate Rubino Yzaguirre - Dry Foro Dry Mancino Reserva Cocchi di Rosso Amaranto Mancino Torino Secco Carpano Antica Mancino Formula Vecchio Dolin Dolin Dry Rouge Yzaguirre - Rojo Reserva Yzaguirre - Lacuesta La Quintinaye Seleccion 1884 Vermut Rojo Extra Dry La Quintinaye Mancino Rouge Yzaguirre - Blanco Lacuesta Bianco Ambrato Reserva Reserva Atxa Tinto Del Professore Cocchi Dolin Blanc Floral Sweet Americano Martini Riserva Delicate mouth-feel, with La Quintinaye Notable presence of Ambrato soft flavors like ripe fruit, nuttiness, Blanc Atxa Blanco honeysuckle, orange caramel and vanilla blossom, elderflower, etc.

10 FASEL SHENSTONE / Confidential How can we use these things called aperitifs? Going beyond a few classics…

“Vermouth…that’s for like Martinis and Manhattans, right?” - Ninety-nine percent of the human race

• Quality apéritifs are among the most versatile, impressive, and consumer friendly products behind the bar

• When used properly and fully, they can impress clientele, create a better dining experience, and drive more revenue & higher margins for the bar

11 FASEL SHENSTONE / Confidential For the simpletons like me, I present the foolproof aperitif roulette

Yup, you need Make sure it is a a glass no quality aperitif, matter what otherwise this plan goes to shit

Make sure it is Just a little spirit, dry not sweet, no matter how but otherwise badly you want just get crazy to lay it on

12 Contact Us If you share our passion for raising the standards of the US wine and spirits market, please contact us directly using the information below.

Lars Fasel / Portfolio & Business As a certified sommelier with more than a decade of experience in the Development restaurant and bar industry, Lars is responsible for identifying new products and constructing the Fasel Shenstone portfolio. After a short break from the industry to attend the London School of Economics, Lars +1 858.752.0695 returned to the US to become the Sommelier at a prominent restaurant [email protected] and retailer on the west coast His exceptional wine lists were recognized by The New York Times, the Wine Spectator and Esquire Magazine.

Leith Shenstone / Operations & As an experienced strategy consultant advising some of the world’s Partnerships most respected companies on new sources of growth and delivery models, Leith is responsible for overseeing Fasel Shenstone’s importing tactics and logistics, and for developing and nurturing the strong +1 206.858.3924 partnerships we seek with our suppliers, distributors, and service [email protected] providers. Leith also supports portfolio building, drinking samples when needed. He holds a Master’s degree in Economics from London School of Economics.

13 FASEL SHENSTONE / Confidential