GERMANY/UK: Henkell & Co takes majority stake in Copestick Murray
Copestick Murray's 'I Heart' range
German wine and spirits producer Henkell & Co has acquired a 60% stake in UK-based wine importer Copestick Murray for an undisclosed sum.
In an announcement today (30 August), Henkell & Co said its “main focus” for the partnership would be to establish its Prosecco brand, Mionetto, in the UK. “The UK is the largest market for Prosecco Spumante outside of Italy and one of the fastest growing markets for Prosecco overall,” said Andreas Brokemper, Henkell & Co's CEO.
Robin Copestick, MD & co-founder of Copestick Murray, whose portfolio includes the 'I Heart' wine brand, told just-drinks that these are “exciting times” for the company. “They (Henkell) are an extremely successful company with brands all over Europe,” he said. “Sparkling wine has been an area we've been under-represented in, so it works well, especially as it's a growth category in the UK.”
Copestick added: “We needed this strength financially, there's only so much you can do when you are under-capitalised.”
He declined to say how much Henkell & Co had paid for its 60% stake.
Henkell's three-strong UK sales force, part of its own UK distribution company set up in 2011, will team up with Copestick Murray's team. No personnel changes will happen as part of the deal, Copestick confirmed.
The deal becomes effective on Sunday (1 September).
Last year, Henkell & Co acquired Spanish wine firm Cavas Hill.
- Analysis - Remy's Cognac "dead-cat bounce"
- Comment - How Hand-Made is Tito's Handmade Vodka?
- Heineken to stay "active player" in beer M&A - CFO
- Focus - Pernod Ricard's Q1 sales by brand
- Time for Heineken to make a European break
- Moët Hennessy unveils first Travel Retail outlet
- United Spirits sees Q1 net loss
- Whisky downturn slows Diageo's Scotch spend
- Beam Suntory, Edrington part ways in Travel Retail
- Pernod Ricard sees sales lift in Q1