SPAIN: LVMH acquires Numanthia-Termes winery
Moët Hennessy Louis Vuitton (LVMH) has acquired Numanthia-Termes in a deal that will expand the Spanish winery's distribution.
Speaking to just-drinks today (14 February), a spokesperson for LVMH said: "We see incredible potential in putting those wines on the broader markets. Today, these wines are really well-known in Spain among wine specialists and exports are mainly done in the US, Germany, Switzerland and Japan. Still, they are mainly consumed by Spanish people."
The sale, which includes the winery, inventory and about 40 hectares of vineyards, will include the 1-hectare Termanthia vineyard, the company said.
The spokesperson added: "This is a very high quality acquisition, the wines are super-premium. The aim of LVMH us to exploit the potential of these wines and grow the export markets. One of the brothers of the Eguren family, the winemaker Marcos Eguren has agreed to stay on."
Three brands will be exported, with its flagship Termanthia retailing at over US$150 per bottle and the others following at nearer to $50 and $20, the company said.
Financial details of the deal were not disclosed.
Last week, the French luxury products group said that total sales last year rose in organic terms by 13% year-on-year to EUR16.5bn (US$24.06bn). Group net income for 2007 was up by 8% on 2006, at EUR2.02bn. Profit from recurring operations, meanwhile, climbed by 12% to EUR3.55bn.
French luxury goods firm LVMH has announced a 5% sales rise for its first half, with wine and spirits brands showing a strong recovery in the second quarter....
United Spirits has posted a strong rise in sales and profits for its latest quarter....
Campari International has further strengthened its travel-retail team with the appointment of Cecile Garnier as regional manager for travel retail....
Whyte & Mackay has declined to comment on reports that it is considering a move for Glenmorangie's Glen Moray Distillery....
- Pernod Ricard 's first-half results - Preview
- Pernod Ricard's H1 performance by region - Focus
- Heineken's FY performance by region - Focus
- Forget Baby Boomers at your peril - Consumer Trend
- Carlsberg's full-year performance by region
- Asahi Group lines up Grolsch, Meantime, Peroni buy
- Pernod Ricard targets US through unit, exec switch
- William Grant & Sons' Ailsa Bay - NPD
- SABMiller's Europe chief to join Britvic board
- Asahi Group to buy Grolsch, Peroni from SABMiller
- Global travel retail insights - market forecasts, product innovation and consumer trends
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Global Whiskey Market 2016-2020
- Emerging Drinks Industry Trends
- Global sparkling wine insights - market forecasts, product innovation and consumer trends research