US: Constellation Brands completes Mark West deal for US$160m
Constellation first announced details of the deal last month
Constellation Brands has completed its acquisition of the Mark West brand from Purple Wine Company for around US$160m, the company announced yesterday (16 July).
The deal includes the Mark West trademark, grape supply contracts and inventories of wines from three California appellations - a California Pinot Noir, a Russian River reserve Pinot Noir and a Santa Lucia reserve Pinot Noir, along with a Chardonnay. According to FMCG analysts, SymphonyIRI, Mark West is the top-selling Pinot Noir in the US, posting a 35% volume growth rate in the last 12 weeks.
"Mark West is one of the fastest-growing major Pinot Noirs in the market and has exceeded the growth of the category," said Rob Sands, Constellation's CEO. "The brand is an exciting addition and fills a gap in our portfolio of pinot noir brands."
Constellation first announced details of the deal last month, on the same day it emerged the firm is to take full control of beer import business Crown Imports, in the wake of Grupo Modelo's merger with Anheuser-Busch InBev.
Last year, just-drinks travelled to the US to report on Diageo's investor conference. The subject of the presentations was the company's hopes and plans for the Latin America & Caribbean region. While...
- Why Scotch must drop the 'malts good, blends bad'
- Pernod's mood darkens over India - Analysis
- Soft drinks is losing the recycling game
- Cognac is back - is Remy Cointreau ready?
- Heineken Q1 2017 by region - results data
- Diageo to cut 105 jobs in Scotland, 50 in Italy
- Scotch sales set to soar, despite recent struggles
- Pernod Ricard posts solid YTD sales jump - results
- Pernod Ricard YTD fiscal-2017 sales performance
- Cognac needs innovation at bottom end - Pernod
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Myanmar - ISA Country Report
- Flavoured Powder Drinks in 2017: Confronting an Ageing World