S AFRICA: Constellation finalises Flagstone acquisition
Constellation Europe has completed its acquisition of South African winery Flagstone.
The European arm of Constellation Brands confirmed late last week that it has finalised its acquisition of Flagstone, which Constellation has bought from family-owned Terrace Road Trading. The brand will join the Kumala wine brand in Constellation Europe's South Africa portfolio.
Financial details of the transaction were not disclosed.
As part of the proposed deal, Constellation Europe has retained the services of viticulturalist and winemaker Bruce Jack and his team. Jack will also supervise all of Constellation's viticulture and winemaking in South Africa, including Kumala.
This year will see "considerable revitalisation for the Kumala brand," as well as "new packaging and a heavyweight integrated marketing campaign," the company said.
Troy Christensen, president of Constellation Europe, added: "This is a strategically important move for Constellation Europe and we are delighted to welcome Flagstone to our international portfolio of fine wines. There is great potential for South African wines in the UK market. With Kumala as category leader, and under Bruce Jack's guidance, I believe we will unlock this tremendous potential."
Flagstone has enjoyed considerable success of late in Atlantic Canada and the UK through its Fish Hoek wine brand, Jack added. This year, the company is targeting total sales in the region of 300,000 cases.
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