ITALY: Baarsma Wine Group Holding acquires Canei wine brand
The Benelux distribution company said today (23 October) that Pernod Ricard Italia will continue the production of the Canei Wine for BWGH in its production facilities in Piedmont, Italy.
The companies said that, for Pernod, the sale of the brand is in line with its plans to "focus on its core brand portfolio". For BWGH, the acquisition of the Canei brand will "strengthen its international market position" as the company plans to market and distribute Canei worldwide, through Winetracks International.
Pernod Ricard Italia CEO, Noel Adrian, said: "We bought the Italian semi-sparkling Canei Wine in 1988 to strengthen the group's position in US and Europe. Following the enlargement of Pernod Ricard's portfolio through the integration of brands of Seagram and Allied Domecq, the divestment of Canei Wine Brand is in line with the group's strategy to focus now on its new core brand portfolio".
Baarsma's COO, Cees de Rade, added: "The acquisition of Canei is a unique opportunity to enhance our own brand operation and will serve as an international accelerator for our other brands. Canei offers a large business potential and compliments the worldwide demand for wines with a lower alcohol percentage."
Financial details of the purchase were not disclosed.
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