US: Diageo to acquire Rosenblum Cellars
Diageo has entered into a deal to acquire Californian winery Rosenblum Cellars.
The company said today (28 January) that the US$105m acquisition will involve the addition of a Zinfandel to its Diageo Chateau and Estate Wines' brand range in the premium segment of the US market.
Diageo has said that the acquisition, which is subject to regulatory approval in the US, is expected to complete in the first quarter and is anticipated to become "economic profit positive during the fourth full year of ownership".
Rosenblum Cellars founder Kent Rosenblum will continue to make the company's Zinfandel and Rhone varietals and, as part of the deal, will "play a key advisory role in the strategic direction of the brand," the company noted.
Diageo North America president Ivan Menezes said: "The acquisition of Rosenblum Cellars represents an important strategic fit for us, as it enhances Diageo's presence in the premium Zinfandel segment, one of the fastest growing varietals in the US.
"We look forward to working with the Rosenblums in growing this brand as we continue to focus on the quality for which these wines are known and in addition allow the wines to benefit from Diageo's superior distribution network in the US."
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