Agencies pitching the $10-million Royal Mistic flavored spring water account may be jolted by a report that Mistic is for sale. According to the Jan. 8 issue of Jesse Meyers’ Beverage Digest, a prospectus is being circulated in which Joseph Victori Wines is asking a reported $100 million for the brand. As account reviews go, the Mistic pitch has been bizarre to say the least, according to agencies involved. College students are being used as sounding boards for ad concepts submitted by some of the New York’s better known agencies. Now the winning agency or agencies must wrestle with the notion that Mistic could be reassigned under a new owner. Victori chairman Joseph Umbach is said to have made a bundle on the sale of Calvin Coolers wine coolers to Hiram Walker in the late 1980s.
Copyright Adweek L.P. (1993)